Here’s When Ripple’s Stablecoin Is Expected to Launch: President Monica Long

TL;DR

• Ripple’s RLUSD stablecoin is in beta testing, with a launch pending regulatory approval.
• The team has picked Bitstamp, Bitso, Uphold, and others as exchange partners for the upcoming introduction.

RLUSD’s Progress so Far

“It’s up to them. They are reviewing our trust application. It’s going to be in their hands when they are approving it.”

USDT and USDC Lead the Pack

Stablecoins are a type of cryptocurrency whose valuation is linked to a specific asset, such as a fiat currency, a commodity (like gold), or occasionally a basket of assets. They aim to facilitate fast and borderless transactions, making them useful for payments, money transfers, and a store of value.

As mentioned above, the total market cap of the niche is currently standing at approximately $180 billion, with Tether (USDT) being the undisputed leader. The stablecoin is pegged to the greenback and is the third-biggest cryptocurrency (trailing behind BTC and ETH), with its capitalization hitting a new all-time high of almost $125 billion today (November 12).

Circle’s USDC comes second. Its current market cap is around $37 billion, far less than the peak of $56 billion observed in June 2022.