Ripple Officially Introduces RLUSD Stablecoin Targeting $3T Market by 2028

In a significant move at the ongoing XRP Ledger Apex summit, Ripple CEO Brad Garlinghouse announced the company's foray into the stablecoin market with Ripple

Ripple Labs Inc. has officially announced the launch of its stablecoin, designated by the trading symbol RLUSD. This announcement was made during the XRP Ledger Apex summit by Ripple CEO Brad Garlinghouse, who facetiously referred to RLUSD as the “Real USD,” highlighting its derivation from “Ripple USD.” The session also included the presence of Ripple's Chief Technology Officer, David Schwartz.

Following Garlinghouse's announcement, Ripple went on to confirm the existence of RLUSD through its official website and social media platforms, cementing the new term in the cryptocurrency lexicon. This announcement comes a month after the company's trademark application for RLUSD was spotted on the U.S. legal database registry, Justia. The application, which outlines RLUSD's role in electronic financial services for managing virtual currency payments and transfers, sparked speculation within the community regarding the company's next move.

The community's anticipation culminated in mixed reactions to the announcement. While many had speculated and hoped for alternative names like USDX or USDR, the company's options were limited. Notably, the former is already claimed by Flare Networks, and the latter is used by another stablecoin issuer. Nonetheless, the community now has official confirmation of RLUSD as the company's stablecoin.

This marks a strategic pivot for Ripple, as the company aims to establish a presence in the burgeoning stablecoin market, which is projected to be valued at close to $3 trillion within the next four years. RLUSD is set to be a 1:1 USD-backed stablecoin, offering a stable and transparent option for users.

It's important to note that RLUSD is not yet live, with the company aiming for a launch on both the XRP Ledger and Ethereum by the end of 2024. This dual-network approach showcases Ripple's commitment to interoperability and maximizing RLUSD's market reach.

As Ripple ventures into this new endeavor, it aligns with the company's broader mission of driving innovation and stability within the cryptocurrency market. This move also underscores Ripple's adaptability and foresight in navigating regulatory landscapes and market demands.