Ripple CEO has voiced the prospects for the RLUSD stablecoin in Japan

According to him, the Japanese market demonstrates stability, although some conservatism characterizes it

06.09.2024 - 13:40

101

2 min

What’s new? Ripple CEO Brad Garlinghouse has shared his views on the global outlook for stablecoins, especially in the context of Japan. In an interview with Bloomberg, he spoke about the company’s intention to launch its stablecoin in that country soon.

Ripple will launch its own RLUSD stablecoin in the coming weeks

The asset will be available on the XRP Ledger and Ethereum networks

According to Garlinghouse, the launch of the Ripple-USD (RLUSD) stablecoin is expected after receiving approval from US regulators. He noted:

“Everything Ripple does is in conjunction with regulatory approval and licensing. Our expectation has been to move as quickly as we can. But, we’re optimistic.”

Garlinghouse also emphasized that Japan passed bills last year that went into effect this year, and the process of introducing stablecoins is underway. According to him, the Japanese market is showing stability, although it is somewhat conservative. Japan’s Financial Services Authority (FSA) clarified the rules for regulating cryptocurrencies.

Ripple will add EVM-based smart contracts to its XRPL blockchain

Earlier, the company introduced a new token standard to the blockchain

Garlinghouse assured that Ripple is focused on launching RLUSD and a yen-pegged stablecoin is a matter of time. In the United States, Ripple is actively working with the New York Department of Financial Services (NYDFS) and has bought Standard Custody.

Author: