Ripple, President Monica Long revealed that the company’s Ripple USD (RLUSD) stablecoin is about to launch across many other leading crypto trading platforms. At the same time, Long disclosed that XRP is next in line for spot exchange-traded funds (ETF) like Bitcoin and Ether aiming towards a new level of growth in Ripple’s ecosystem.
RLUSD Stablecoin to Expand Accessibility
Ripple is already trying to expand the range of trading partners that offer its RLUSD stablecoin which was launched on December 17, 2024. As long stated in the interview that was conducted on January 7 with Bloomberg, Ripple is continuing to extend the distribution of ripple dollars on other exchanges as the company plans for the expansion soon. However, she failed to elaborate on whether or not RLUSD would be listed in places such as Coinbase.
As for now, Bitso, MoonPay, CoinMina, Bullish, Mercado Bitcoin, and other platforms are available for RLUSD according to the Ripple website. The stablecoin market capitalization has exceeded $71.8 million, and more than 76% of trading volume takes place on the Bullish exchange, as of data on CoinGecko. RLUSD is also available on other trading platforms including the decentralized exchange platform, Sologenic, but the volumes are not as large as those in Binance.
Payments Growth Fuels RLUSD Adoption
Buoyed by its increased clientele base in the last year through Ripple’s payments business, firms’ demand for RLUSD has been increasing. “We have grown from $200 million to $400 million within payments last year, and therefore, there is a great potential for the growth of our payment solution,” Long said during an interview.
This growth corresponds to the general growth of the stablecoin market which has increased to $ 206.2 billion, a year-on-year growth of 55%, as indicated by DefiLlama. Stablecoins are seen by Ripple as crucial to providing a smooth on-ramp off-ramp mechanism in the world of digital assets.
XRP Spot ETF Likely to Launch Soon
Long’s comments on the company’s digital assets revealed that Ripple has a keen interest in exchange-traded funds, on a positive stand about an XRP spot ETF. One should expect to find one very shortly […] Regarding XRP she said, “It will be the turn of XRP next after Bitcoin and ETH.”
Some of the firms that have applied for XRP ETF are WisdomTree, Bitwise, Canary Capital, and 21Shares and all of them submitted their applications with the US Securities and Exchange Commission (SEC). He did say that the political environment in the United States can help in increasing the approval of ETF filing which might see the XRP ETFs/packages being approved earlier.
Ripple-Chainlink Partnership Enhances RLUSD Utility
To enhance the capability of RIPPLE’S ecosysteM, its price feeds on Ethereum, and the XRP ledger will be obtained from Chainlink. This partnership is to help give correct and unforgeable pricing data that is crucial for DeFi and to minimize mischievous occurrences such as price manipulation.
With the help of integrating Chainlink’s price feeds, RLUSD is expected to receive more use cases in DeFi scenarios, which will also bring more value to the table. This partnership shows Ripple’s dedication to helping create positive change and encourage development in the crypto market.
Ripple’s aims at increasing the adoption of RLUSD and the possibility of launching an XRP ETF speak volumes to its intention of being at the forefront of the current transitioning financial systems. These initiatives, however, will prove crucial for Ripple as market participants observe the company’s further development during what has become a period of increasing legal scrutiny.
