In a recent interview, Ripple CEO Brad Garlinghouse shared his thoughts on the growth potential of the stablecoin market and discussed the success of their new asset, RLUSD.
Market Growth Projections
In a CNBC interview, Garlinghouse noted that the current stablecoin market capitalization is around $250 billion. He emphasized that 'many people think it will reach $1 to $2 trillion in a handful of years,' citing the 'profound' growth in the sector.
RLUSD Success and GENIUS Bill
Recently, Ripple announced that BNY Mellon would serve as the custodian for its enterprise-focused stablecoin RLUSD, which launched in late 2024. RLUSD reached a $500 million market cap this week, marking rapid adoption among Ripple’s institutional partners. Furthermore, the GENIUS Act, which legalizes stablecoins, may act as a catalyst for further growth in the sector.
Ripple's Banking Strategy
Ripple applied for a banking license with the US Office of the Comptroller of the Currency and a Federal Reserve Master Account, moves Garlinghouse described as essential for bridging traditional finance with decentralized finance systems.
As projections indicate, the stablecoin market may experience substantial growth in the coming years, presenting new opportunities for Ripple and other players in this space.
