According to TechFlow, Ripple CEO Brad Garlinghouse revealed at the Seoul Blockchain Week event in South Korea that the company is about to launch a stablecoin RLUSD pegged to the US dollar. It is currently in a "private closed testing phase" and is expected to be officially released "within weeks rather than months." Garlinghouse said that after the USDC decoupling incident 18 months ago, Ripple believed that it had the opportunity to enter the stablecoin market.
In addition, Garlinghouse expressed "no interest" in conducting an IPO in the United States, mainly because of the SEC's "hostile attitude" towards cryptocurrencies. He predicted that no matter who wins the upcoming presidential election, the U.S. SEC will usher in new leadership, believing that the current chairman Gary Gensler has lost bipartisan support.
Regarding the legal dispute with the SEC, Ripple was fined $125 million last month, far less than the $2 billion proposed by the SEC. Garlinghouse believes this is a victory for the company and the industry. He also expressed regret for the SEC's recent enforcement action against the NFT market OpenSea, believing that the SEC's position of treating NFTs as securities is wrong.
Despite this, Garlinghouse is optimistic about the development of cryptocurrencies in the next five years and looks forward to getting clearer regulatory guidance from lawmakers rather than the SEC.
