Ripple’s Stablecoin Expansion
- Ripple’s USD stablecoin, RLUSD, set to be listed on major crypto exchanges soon
- Monica Long hints at imminent availability on other exchanges
- Expect more announcements regarding RLUSD distribution in the near future
Monica Long, the president of Ripple, has revealed plans for the expansion of the company’s USD stablecoin, RLUSD, to other major cryptocurrency exchanges. In an interview with Bloomberg, Long expressed her confidence in the imminent listing of RLUSD on various platforms.
Long stated, “We are continuing to expand distribution and availability of Ripple dollars on other exchanges. So I think you can expect to see more availability, more announcements coming soon.”
Ripple officially launched RLUSD on December 17, gaining regulatory approval from the New York Department of Financial Services. This move was met with optimism from Ripple CEO Brad Garlinghouse, who anticipates increased adoption of stablecoins like RLUSD as regulatory clarity improves in the United States.
Upcoming XRP ETF
Monica Long also touched on the possibility of an XRP exchange-traded fund (ETF) in the near future. She mentioned, “I think we will see one very soon, you know, various crypto spot ETFs this year coming out of the US. I think XRP is likely to be next in line after Bitcoin and Ether.”
Despite ongoing legal challenges between Ripple and the US Securities and Exchange Commission (SEC), Ripple’s CEO Brad Garlinghouse previously stated that an XRP ETF is “inevitable.” Various companies, including Canary Capital, have already filed for an XRP ETF.
Long added, “We think especially with the administration change, the approvals of those filings will accelerate.” The incoming administration under President-elect Donald Trump is viewed as more favorable towards cryptocurrencies compared to the outgoing team led by Joe Biden.
