Find out the latest developments in the cryptocurrency market.
Ripple's CTO stated that RLUSD will be released on the ETH and XRPL main chains.
The stablecoin industry is expected to grow from $150 billion to $2.9-3 trillion by 2028.
Ripple's Stablecoin is an attempt to meet the growing demand.
US fintech company Ripple recently confirmed plans to launch a new RLUSD stablecoin based on the #XRP #Ledger and #ЛюбимыйТокен mainchain. The company cited the growing demand for stable coins and its own expertise in cross-border payments as the main reasons.
The company's CTO David "JoelKatz" Schwartz confirmed that Stablecoin will be released on the Ethereum mainchain.
He had previously stated that the RLUSD token would be released on both the #XRP Ledger and Ethereum. However, a user of platform X noted that the executive did not specify whether the stable tokens will be released on the Ethereum main chain or on the XRPL EVM sidechain.
In response, Ripple CTO David "JoelKatz" Schwartz clarified that stable coins will indeed debut on both the XRP Ledger and the Ethereum main chain. The Ethereum main chain is known for its congestion and high gas rates, but recent updates such as Merge have alleviated some of these issues.
Rhys Merrick, Ripple's managing director for the Middle East and Africa, highlighted Ripple's decades of experience in building cross-border payment systems.
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