Exciting developments are unfolding in the crypto sphere! Ripple CEO Brad Garlinghouse has announced the upcoming launch of the company’s own stablecoin, dubbed RLUSD. The new digital asset will reportedly be available on both the XRP Ledger and Ethereum networks, facilitating broader token use across different blockchain platforms. Garlinghouse believes that the launch of RLUSD scheduled for late 2024 will strengthen Ripple's market position by attracting a large audience, including crypto enthusiasts and established financiers involved in digital transactions.
As for the immediate future, Ripple plans to expand its influence and reach a diverse audience. The company is currently working with central banks in ten countries, offering the XRP blockchain for digital currency creation. While Garlinghouse did not specify the countries involved, media reports indicate that Ripple is collaborating with Georgia, Bhutan, the Republic of Palau, and Montenegro on pilot projects to create central bank digital currencies (CBDCs).
The only cloud on the horizon is an ongoing legal battle between Ripple and the US Securities and Exchange Commission. The SEC accuses Ripple of selling XRP in an unregistered security offering. However, Bill Morgan, a pro-Ripple lawyer, argues that transactions conducted using Ripple's On-Demand Liquidity (ODL) do not violate any securities laws.
