During a recent interview with CNBC, Ripple President Monica Long said that an XRP exchange-traded fund (ETF) would make "a lot of sense."
"If you think about it, only XRP and Bitcoin have regulatory clarity on status in the U.S. XRP has been a top 10 asset by market cap and is about the top 5 if you look at daily traded volume. So, I think that it will make a lot of sense," she said.
Long's statement comes after Ripple CEO Brad Garlinghouse recently predicted that the launch of a spot XRP ETF was seemingly "inevitable." During a recent CNBC interview, he clarified that approving several altcoin ETFs would make sense since investors typically do not want to have exposure to a single coin. At the same time, he believes that the upcoming Ethereum ETFs will be very successful.
Gamza KhanzadaevLong expects to see even more institutional interest in the space. Sophisticated players are entering the relatively nascent crypto market with the help of Bitcoin ETFs or tokenized assets.
Ripple's stablecoin is expected this year
As reported by U.Today, Ripple recently made a foray into the ultra-competitive stablecoin sector.
The yet-to-be-named stablecoin project is expected to go live by the end of 2024 according to Long.
"We are working on all the things you need to do in order to bring a product like this to market," she said.
Long claims that there will still be a need for the XRP token even after Ripple launches its stablecoin project since the former will still be able to serve as a bridge asset.
The Ripple executive has pointed to various projections showing that the stablecoin market could reach more than $3 trillion in cumulative market cap within the next five years.
Stablecoins are seeing great demand since they provide easy access to US dollars in various parts of the world. Moreover, stablecoins are convenient for conducting payments.
Valeria Blokhina
Tomiwabold Olajide
Vladislav Sopov
Dan Burgin