TL;DR
- Ripple’s stablecoin is gaining traction, with major exchanges like Coinbase expected to adopt it soon.
- The company’s president sees an XRP ETF likely in 2025, with pro-crypto SEC leadership potentially favoring the launch of such products.
The Leaders to Embrace RLUSD ‘Imminently?’
Ripple revealed its intentions to launch a stablecoin pegged to the US dollar in April last year. The product (called RLUSD) passed through a testing phase in the following months before being officially approved by the New York Department of Financial Services (NYDFS) in mid-December.
Uphold, Bitstamp, Bitso, Moonpay, CoinMENA, and others were the first cryptocurrency exchanges to embrace the stablecoin. Around Christmas, the Peter Thiel-backed Bullish also jumped on the bandwagon.
However, behemoths like Coinbase and Binance have yet to join the list. In a recent interview for Bloomberg, Ripple’s president, Monica Long, said people should expect such a move “imminently.”
The exec noted that the crypto market has been growing in the last quarters. She predicted that 2025 could also be successful for the industry, claiming that stablecoins might play a crucial role in the process.
“We think that the market’s going to grow tremendously in the course of the next year. Our business doubled within payments last year, and we see a really strong growth trajectory for our payments solution, and with that, RLUSD will have a premium role,” Long added.
What About an XRP ETF?
Ripple’s president also assumed that US-based companies would introduce more crypto ETFs this year and that an XRP exchange-traded fund “is likely to be next in line.”
“We think, especially with the administration change, the approvals of those filing will accelerate,” Long suggested.
Recall that the US Securities and Exchanges Commission (SEC) will soon have a new leader – Donald Trump’s nominee, Paul Atkins. He will replace Gary Gensler, who has been considered a huge enemy of the crypto industry. During his tenure, the securities regulator filed numerous lawsuits against cryptocurrency businesses, and perhaps the most popular is the one against Ripple.
Gensler’s successor, Atkins, has shown a pro-crypto stance in the past, and the XRP army believes this could result in a favorable resolution of the legal battle that has been ongoing since December 2020.
The post Here’s When RLUSD Will Get Listed by Other Crypto Exchanges: Ripple’s President appeared first on CryptoPotato.
