the crypto company states that the stablecoin is close to launch

Brad Garlinghouse, CEO della società crypto Ripple (XRP), ha dichiarato che il lancio della stablecoin RLUSD è molto vicino, indicando come tempistica “weeks and not months”. 

Ripple (XRP): the CEO of the crypto company reveals that the launch of the stablecoin is very close

During the Korea Blockchain Week, Brad Garlinghouse, CEO of Ripple (XRP), stated that the launch of the stablecoin RLUSD is very close. 

Specifically, Garlinghouse stated that there will be just a few weeks to wait, not months for the arrival of the crypto pegged 1:1 with the US dollar. 

“We will definitely launch it soon. Weeks, not months. It is called Ripple USD. RLUSD was minted in this context.”

Not only that, the CEO of the crypto company also revealed that the idea of issuing a Ripple stablecoin came when USD Coin (USDC), the second largest stablecoin by market cap, lost its peg to the dollar in March 2023.

In this regard, Garlinghouse said: 

“We believed that there was an opportunity for a credible operator who already works with many financial institutions to enter that market”

In any case, what the CEO of Ripple highlighted is that the launch of RLUSD will take place in this ongoing 2024, without waiting for next year. 

Ripple (XRP): the success of the crypto beta testing of the stablecoin RLUSD

August was an important month for Ripple. The announcement of the beta testing for Ripple USD and its success are part of this special moment. 

And in fact, at the end of the month, the crypto company announced to the community both the success of the beta testing for RLUSD and that it had minted and burned a first batch of tokens. 

The beta testing of Ripple’s stablecoin was conducted on XRP Ledger and Ethereum and served to create new opportunities, liquidity, and institutional use cases for users, developers, and applications. 

Not only that, the beta test also served to ensure that the stablecoin meets the highest standards of security, efficiency, and reliability, before being widely available.  

What the crypto society might be waiting for in order to proceed could be the regulatory approval for RLUSD. 

At the moment, what is known about RLUSD is that it will be 100% backed by deposits in US dollars, short-term US government securities, and other cash equivalents. 

Another special moment for Ripple in August 2024 was the final conclusion to its lawsuit against the Securities and Exchange Commission (SEC), which caused the price of XRP to soar by +20% in 24 hours.

2025 as the year of the turning point

Speaking of this September that has just begun, Ripple has instead shared on X a series of important announcements regarding its present and future, stating that 2025 will be the year of the bull.  

Among the various points, the one related to his expansion plan for programmability for XRP Ledger. 

In practice, Ripple wants to provide builders, entrepreneurs, and users with further customization for a variety of use cases, accelerating innovation and attracting developers who want to leverage the expanded capabilities of XRP Ledger. 

Through this expansion plan, Ripple intends to introduce native smart contract functionalities on the XRP Ledger Mannet, currently under research, and introduce the XRPL EVM Sidechain, expected in the coming months.