During a fireside chat at Korea Blockchain Week, Ripple CEO Brad Garlinghouse revealed that the company is poised to launch its new RLUSD stablecoin in the coming weeks.
RLUSD Stablecoin Launch
According to Ripple, the company is preparing to launch its US dollar-backed stablecoin, RLUSD, in the coming weeks. During the chat at Korea Blockchain Week, Garlinghouse announced that RLUSD is currently in closed beta testing and will soon be publicly available. The stablecoin is being tested on two blockchain networks and is intended to complement Ripple’s XRP tokens. Garlinghouse emphasized Ripple’s aim to provide a reliable alternative in the stablecoin market, especially after the fluctuations in USDC over the past 18 months.
Ripple's Stance on US IPO and SEC Issues
During the conversation, Garlinghouse also mentioned that Ripple has no interest in pursuing an IPO in the United States, citing the Securities and Exchange Commission’s (SEC) “hostile” stance toward cryptocurrency companies. He highlighted the SEC’s inconsistency, noting that the regulator approved Coinbase’s IPO, only to later sue the company for similar activities. Garlinghouse expressed confidence that the SEC’s leadership will likely change after the next US election, potentially leading to more favorable regulatory clarity for the crypto industry. Despite the challenges with the SEC, Garlinghouse remains optimistic about the future of crypto and legislative initiatives like FIT 21 that could bring positive changes to the industry.
Ripple CEO Brad Garlinghouse expressed his confidence that the RLUSD stablecoin could become a significant element in the cryptocurrency market in the coming weeks. He also noted possible changes in the US regulatory approach that could foster the growth of the crypto industry.
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