由 Wolfgang 
Ripple CEO Brad Garlinghouse announced that its stablecoin project, RLUSD, has received approval from the New York Department of Financial Services (NYDFS). This marks RLUSD’s official entry into the market, where it will compete with established stablecoins like USDT and USDC. Garlinghouse stated that the list of exchanges and partners for RLUSD will be released soon and predicted that the market capitalization of stablecoins could reach $2 trillion by 2028. RLUSD has undergone testing on both the XRP Ledger and the Ethereum mainnet and has established partnerships with multiple exchanges. Ripple plans to primarily target institutional investors with RLUSD, emphasizing its complementary rather than competitive relationship with XRP. Currently, RLUSD will maintain a 1:1 peg to the US dollar, backed by assets including US dollar deposits and short-term US Treasury bills.
This approval is a significant development for Ripple, especially considering its ongoing legal battle with the US Securities and Exchange Commission (SEC) over the XRP token. The launch of RLUSD demonstrates Ripple’s continued commitment to innovation within the blockchain and cryptocurrency space. The institutional focus is a strategic move, leveraging Ripple’s existing network and relationships to gain a foothold in a market segment that demands high levels of regulatory compliance and transparency. The success of RLUSD will depend on several factors, including its ability to maintain its peg, the adoption rate among institutional investors, and the overall regulatory landscape for stablecoins. The competition with established players will be fierce, but Ripple’s strong brand recognition and existing infrastructure could give it a considerable advantage.
The integration with both the XRP Ledger and Ethereum showcases Ripple’s commitment to interoperability. Using XRP Ledger allows for potentially faster and cheaper transactions, whereas Ethereum offers broader access to a wider developer community and DeFi ecosystem. This dual approach could allow RLUSD to attract users from both worlds. While the $2 trillion market cap prediction is ambitious, it reflects the growing interest in stablecoins as a crucial component of the broader cryptocurrency ecosystem and the potential for significant growth in the coming years. The coming months will be crucial in determining RLUSD’s market reception and its ability to live up to Ripple’s ambitious projections.
