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Ripple CEO Brad Garlinghouse recently made a bold prediction about Ripple's stablecoin, RLUSD. In an interview with Bloomberg Television on Wednesday, Garlinghouse says he expects RLUSD to be one of the top five stablecoins by the end of the year, with the stablecoin sector poised for massive expansion.
The Ripple CEO expects the overall stablecoin market to grow dramatically, with regulatory clarity improving and demand for digital dollar alternatives rising.
With a current market capitalization of $169.6 million according to CoinGecko data, the projection of RLUSD being among the top five stablecoins by year's end might seem lofty; nonetheless, the Ripple CEO cited that RLUSD is gaining traction, as reflected by its exchange listings.
Alex DovbnyaMost recently, LMAX Digital is the latest major cryptocurrency trading platform to list the Ripple USD (RLUSD) stablecoin.
Initially, at its debut in December 2024, RLUSD arrived on several exchanges and crypto platforms, including Uphold, MoonPay, Archax and CoinMENA, with listings on Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash following.
Ripple celebrates legal victory
The Ripple CEO's comments on the RLUSD stablecoin come in the wake of the company's recent major legal win: the U.S. Securities and Exchange Commission case against Ripple has ended, the latest of several enforcement actions abandoned. "This provides a lot of certainty for Ripple," Garlinghouse said in a recent interview with Bloomberg Television.
Tomiwabold OlajideRegarding what comes next, Garlinghouse says Ripple is focusing on acquisitions and that filing for an initial public offering is not a high priority. When asked about the likelihood of an IPO, Garlinghouse responded, "We’ll look at other things that are blockchain infrastructure companies."
A portion of the case between Ripple and the SEC is still ongoing. In 2023, Ripple disputed part of a verdict that determined that some prior XRP sales to institutional investors should have been registered with the SEC.
A $125 million fine is currently in escrow, and Ripple must now decide whether to pursue its appeal or pay the penalty, according to Stuart Alderoty, Ripple's chief legal officer, in a separate interview with Bloomberg.
Vladislav Sopov
Dan Burgin