Ripple President: RLUSD Stablecoin Is About to Appear on Major Exchanges

Ripple President Monica Long announced the imminent appearance of the RLUSD stablecoin on major crypto exchanges. As she mentioned in an interview with Bloomberg, a listing boom will happen "very soon."

And why delay? It seems that the company is serious about capturing its share of the stablecoin market, which is currently dominated by USDT with its 66% dominance. However, Ms. Long preferred not to disclose specific platforms, especially when it came to a potential listing on Coinbase. A mysterious silence, isn't it?

Currently, RLUSD, launched in mid-December and pegged to the US dollar at a 1:1 ratio, can be found on about ten platforms, including Bitso, MoonPay, and Bullish. The market capitalization of this newcomer is $71.8 million—a drop in the ocean of the $206.2 billion total stablecoin market.

An intriguing detail: over 76% of RLUSD trades are concentrated on the Bullish exchange, where the main trading pairs are RLUSD/USDC and XRP/RLUSD. The decentralized exchange Sologenic enjoys a modest 3.56% of the total volume—just $3.4 million per day.

But this is just the beginning! According to management, Ripple's payments business doubled last year. And it seems the company's appetite is only growing, especially amidst the general rise of the stablecoin market, which has increased by 55% over the year. "We expect this year to be significant for cryptocurrencies in general, and the demand for stablecoins will grow with the market. It's really the way into and out of cryptocurrencies," Long emphasized.

And there's more collaboration with Chainlink—on January 7, the companies announced the integration of the RLUSD price determination mechanism in the Ethereum network and the XRP Ledger. Protection against manipulation, data accuracy, and support for DeFi applications—everything required in the modern digital world.

And finally—the cherry on top. In Long's opinion, XRP could be next in line to receive an ETF after Bitcoin and Ethereum. "I think we will see it very soon," she said, hinting at a possible acceleration in the approval process for XRP-ETF applications with a change in the U.S. administration. WisdomTree, Bitwise, Canary Capital, and 21Shares have already submitted applications to the Securities and Exchange Commission (SEC).

A well-thought-out expansion strategy, integration with key market players, and ambitious plans to launch an ETF—Ripple seems to be preparing a serious offensive on all fronts.