Ripple Unveils Plans to Launch RLUSD Stablecoin and Discusses the Potential for an XRP ETF

InaninterviewwithFrankChaparroon“TheScoop,”RipplePresidentMonicaLongelaboratedonthecompany’splanstolaunchaUSdollarstablecoin(RLUSD)

RippleisplanningtolaunchaUSdollar-peggedstablecoin,accordingtoMonicaLong,presidentoftheblockchaincompany.Speakingon“TheScoop”podcast,LongalsodiscussedthepotentialforanXRPexchange-tradedfund(ETF)intheUS.Thestablecoin,tobecalledRLUSD,willbepartofRipple’sstrategytoprovidearangeofpaymentsolutions,includingXRP,fiatcurrenciesandstablecoins.Thecompany’sgoalistoofferthebestoptionforeachpaymentcorridor,dependingonfactorssuchascost,speedandliquidity.Stablecoinsaretypicallydesignedtomaintaina1:1pegtoafiatcurrency,suchastheUSdollar,andarebackedbyreservesofthatcurrency.Theyofferseveraladvantagesoverfiatcurrencies,includingfasterandcheapertransactions,andcanbeeasilyintegratedintoblockchain-basedpaymentsystems.However,stablecoinsalsocomewithsomerisks,suchasthepotentialforfraudormismanagementofreserves.Tomitigatetheserisks,stablecoinsareoftensubjecttoregularauditsandreportingrequirements.InthecaseofRLUSD,itwillbefullybackedbycashandcashequivalents,accordingtoLong.ThestablecoinwillbecentrallyissuedbyaUS-charteredbank,andwillbeavailabletobothinstitutionalandretailcustomers.AsfortheXRPETF,Longsaidthatitis“logicaltoconsideranETFasasensiblenextstep”givenXRP’sstatusasanon-securityanditshightradingvolumes.However,sheaddedthatthecompanyisnotdirectlyinvolvedintheeffortstolaunchanXRPspotETFintheUS.Severalparties,includingassetmanagersandblockchainfirms,havefiledapplicationswiththeUSSecuritiesandExchangeCommission(SEC)tolaunchaspotXRPETF.TheseapplicationsarestillpendingapprovalbytheSEC.Ifapproved,aspotXRPETFwouldallowinvestorstogainexposuretothepricemovementsofXRPwithouthavingtodirectlypurchaseandholdtheasset.ThiscouldmakeiteasierforinstitutionsandretailinvestorstoparticipateintheXRPmarket.

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