The crypto community, particularly XRP supporters, is eagerly awaiting the launch of Ripple’s stablecoin, RLUSD. Ripple’s CEO, Brad Garlinghouse, recently revealed that the launch of RLUSD, pegged to the US dollar, could take place within a few weeks. This anticipation has grown significantly as Ripple prepares to introduce its stablecoin as a key player in the growing digital asset market.
Recent Token Burns Signal Preparation
In the latest RLUSD launch phase, Ripple burned 24 RLUSD tokens on the XRP Ledger (XRPL) and 64 on the Ethereum network. This shows RLUSD will operate on both blockchains, allowing Ripple to benefit from each.
Related article: Ripple CTO Weighs in on XRP vs. RLUSD for Payment Processing
The simultaneous operation on multiple networks enhances Ripple’s reach and integration within the crypto infrastructure. Ripple’s leadership has not ruled out expanding RLUSD to other blockchain networks.
However, it remains unclear whether the total issuance of the stablecoin will be capped. The company is still considering how much of the stablecoin will be available and what limitations, if any, will be applied.
Targeting the Expanding Stablecoin Market
Ripple is targeting a large share of the stablecoin market, expected to reach $2.8 trillion by 2028. With the total crypto market currently over $2 trillion, Ripple aims to secure a significant part of the future market.
Related article: Ripple CTO Discusses Immutability and Missing XRPL Transactions
As RLUSD undergoes beta testing, Ripple focuses on perfecting the minting and burning processes of its tokens. While this is a crucial step, as gaining and maintaining user trust is essential in the stablecoin market, any mishap could lead to a loss of confidence that might be difficult to recover from.
Ripple is working meticulously to ensure its stablecoin enters the market with full assurance and readiness.
