 
 
According to the CEO of blockchain payments firm Ripple, Brad Garlinghouse, the community sentiment is that the stablecoin market could surge 10 times in the coming years.
Stablecoin Market To Soar To $2 Trillion
The stablecoin market currently stands at around $250 billion, and “many people think it will reach $1 to $2 trillion in a handful of years,” Garlinghouse stated during a July 9 interview with CNBC’s Squawk Box.
The Ripple boss added that the growth of the stablecoin market has been “profound,” noting that his company forayed into the fast-growing sector late, partially because it was already using stablecoins in its payment flows for its institutional clients.
“We can participate in this [stablecoin] market given our institutional background, regulatory compliance, and with over 60 global licenses,” he opined, asserting that the growth ahead will serve Ripple well.
Garlinghouse’s comments came after Ripple chose BNY Mellon as the primary custodian for its enterprise-focused RLUSD stablecoin. As part of the deal, BNY said it will provide “leading transaction banking services” to power the stablecoin while developing integrated solutions.
 
During the interview, the Ripple executive suggested that the firm’s tie-up with BNY Mellon should be seen as a positive development, signaling institutions’ newfound willingness to work with stablecoin issuers and regulatory tailwinds for the industry.
“Working with the most trusted, well-regulated, and even the best capitalized partners is a way to continue to build trust in this system,” he said. “We think it’s indicative of the shift of tide, where we’ve had headwinds for this industry.”
Ripple debuted its own enterprise-focused stablecoin in December 2024. Since then, its market capitalization has expanded to $500 million, a milestone it hit on Wednesday.
XRP was trading hands for $2.43 as of press time, a 2.4% gain over the last 24 hours, as per CoinGecko data. Over the past year, the cross-border payments token has skyrocketed over 445%, in no small part due to the fact that XRP no longer faces regulator headwinds.
Garlinghouse recently announced that Ripple would withdraw its cross-appeal in its protracted legal brawl with the U.S. Securities and Exchange Commission. It followed a federal judge’s refusal to reduce the $125 million penalty against Ripple or lift an injunction imposed on the company last year.
Source: https://zycrypto.com/xrp-surge-heightens-as-ripple-ceo-forecasts-massive-2-trillion-stablecoin-market-boom/