{"id":572893,"date":"2024-09-04T14:50:48","date_gmt":"2024-09-04T14:50:48","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=572893"},"modified":"2024-09-04T14:50:48","modified_gmt":"2024-09-04T14:50:48","slug":"ripple-ceo-brad-garlinghouse-says-rlusd-stablecoin-is-only-weeks-from-launch","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ripple-ceo-brad-garlinghouse-says-rlusd-stablecoin-is-only-weeks-from-launch","title":{"rendered":"Ripple CEO Brad Garlinghouse Says RLUSD Stablecoin Is Only Weeks From Launch"},"content":{"rendered":"<p><a href=\"https:\/\/insidebitcoins.com\/news\/ripple-launches-a-new-token-standard-on-xrp-ledger-to-facilitate-crypto-nfts-issuance\"><span style=\"font-weight: 400;\">Ripple<\/span><\/a><span style=\"font-weight: 400;\"> CEO Brad Garlinghouse says the company is &ldquo;very close&rdquo; to launching its own dollar-pegged stablecoin on the XRP Ledger.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">During a fireside chat at the Korea Blockchain Week in Seoul, South Korea, Garlinghouse said that the stablecoin has been in a &ldquo;closed beta&rdquo; stage. &ldquo;We will certainly launch soon,&rdquo; he said. &rdquo;Weeks, not months.&rdquo;<\/span><\/p>\n<p><img decoding=\"async\" src=\"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107048261-1650367793280-gettyimages-1236003591-MILKEN_CONFERENCE_2021.jpeg?v=1684324853&amp;w=1858&amp;h=1045&amp;vtcrop=y\" alt=\"Bitcoin 'tribalism' holding the crypto industry back, Ripple CEO says\"><\/p>\n<h1><span style=\"font-weight: 400;\">USDC&rsquo;s Depeg Opened Up An Opportunity<\/span><\/h1>\n<p><span style=\"font-weight: 400;\">Ripple&rsquo;s stablecoin will be called Ripple USD and trade under the ticker symbol RLUSD. Garlinghouse said that plans for the company to launch its own dollar-backed stablecoin were set in motion after USD Coin (USDC), which is the second largest stablecoin in terms of market cap, lost its peg to the dollar in March last year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ripple&rsquo;s unique position in the market and connections to multiple financial institutions led to the company&rsquo;s executives identifying USDC&rsquo;s brief disconnect to the dollar as an opportunity to enter the stablecoin market as a &ldquo;credible player.&rdquo;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#128640; B&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;&Auml;M! &#128165;<\/p>\n<p>David Schwartz just dropped a bombshell on stablecoins: \"$16 TRILLION in tokenized assets by 2030!\" &#128200;&#10024;<\/p>\n<p>And guess what? <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&amp;ref_src=twsrc%5Etfw\">#Ripple<\/a>'s 'RLUSD' is set to dominate the entire stablecoin market! &#127775;&#128184; <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\">#XRP<\/a> <a href=\"https:\/\/t.co\/lyibWFVB9N\">pic.twitter.com\/lyibWFVB9N<\/a><\/p>\n<p>&mdash; Collin Brown (@CollinBrownXRP) <a href=\"https:\/\/twitter.com\/CollinBrownXRP\/status\/1830878396043186652?ref_src=twsrc%5Etfw\">September 3, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Plans for the stablecoin were first shared in April. Ripple said back then that its stablecoin will be &ldquo;100% backed by U.S. dollar deposits, short-term U.S. government Treasuries and other cash equivalents.&rdquo;<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Ripple Not Interested In A US IPO<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">During the fireside chat, Garlinghouse was asked whether the company was considering going public. He responded by saying that he has &ldquo;no interest&rdquo; in taking the fintech public in the US given the &ldquo;pretty hostile&rdquo; stance towards the crypto industry.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Garlinghouse referred to the IPO of Coinbase as a reason for his lack of interest. He said that the US Securities and Exchange Commission (<\/span><a href=\"https:\/\/insidebitcoins.com\/news\/xrp-surges-18-as-ripple-declares-victory-in-sec-lawsuit-despite-125-million-fine\"><span style=\"font-weight: 400;\">SEC<\/span><\/a><span style=\"font-weight: 400;\">) approved Coinbase&rsquo;s IPO, only to sue the exchange &ldquo;for the same things they approved.&rdquo;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Garlinghouse added that the first piece of advice he gives to entrepreneurs interested in starting crypto companies is to not incorporate in the US. If they do choose to set up a crypto company in the US, they will only be &ldquo;asking for more legal bills.&rdquo;<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Related Articles:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.linkedin.com\/pulse\/best-altcoins-invest-unveiling-top-picks-maximum-returns-calsona-9ceye\/\"><span style=\"font-weight: 400;\">Best Altcoins to Invest In: Unveiling Top Picks for Maximum Returns!<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/pro-crypto-lawyer-john-deaton-wins-republican-primary-setting-up-senate-showdown-with-elizabeth-warren\"><span style=\"font-weight: 400;\">Pro-Crypto Lawyer John Deaton Wins Republican Primary, Setting Up Senate Showdown With Elizabeth Warren<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/insidebitcoins.com\/news\/is-it-too-late-to-buy-pox-monkey-pox-price-skyrockets-245-but-traders-rush-to-buy-this-brett-rival-as-time-runs-out\"><span style=\"font-weight: 400;\">Is It Too Late To Buy POX? 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During a fireside chat at <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/in-content-providers\/a-default-box\" title=\"A Default Box\">[&#8230;]<\/a><\/div>","protected":false},"author":1954,"featured_media":502938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"categories":[7596],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.0 (Yoast SEO v22.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ripple CEO Brad Garlinghouse Says RLUSD Stablecoin Is Only Weeks From Launch - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Ripple CEO Brad Garlinghouse says the company is \u201cvery close\u201d to launching its own dollar-pegged stablecoin on the XRP Ledger. 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