At a press conference in Singapore, Ripple's CEO Brad Garlinghouse and APAC Head Fiona Murray discussed the announcement of the RLUSD stablecoin and the prospects for the Korean market.
Discussion of the New Stable Asset RLUSD
Garlinghouse confirmed that Ripple's newly launched stablecoin, RLUSD, will be used as collateral for all services at Hidden Road, a well-known prime brokerage platform. He noted that RLUSD is the first stablecoin enabling efficient cross-margin trading between virtual assets and traditional financial markets.
Korea’s Market Readiness and Regulatory Landscape
Fiona Murray emphasized during a private session that the Korean market is still in its early stages regarding tokenization and stablecoin business. She highlighted that interest from Korean investors in digital assets like XRP can drive significant growth in this sector. Murray stated that Ripple is closely monitoring the regulatory environment in Korea and is optimistic about future institutional adoption.
Media Coverage and Regional Interest
The discussions and comments from Ripple have also attracted attention from Korean media. Ripple is expected to align its strategy in regions with high demand for digital assets and evolving regulatory standards. These statements provide insight into Ripple's vision for RLUSD as a multifunctional stablecoin.
Ripple's statements highlight the company's strategy in the developing Korean market. RLUSD is designed as a stablecoin that combines opportunities for institutional clients and retail investors.
