According to U.Today, Ripple's President Monica Long has shed light on the forthcoming Ripple stablecoin, RLUSD, and its potential impact on XRP. Long, during her appearance on the Scoop podcast, explained that the new stablecoin is intended to integrate with and enhance the existing XRP ecosystem. She emphasized that RLUSD, which is set to launch soon, is designed to 'complement' XRP, especially in facilitating efficient cross-border flows.
While XRP will continue to be a key player in Ripple's payment solutions, the introduction of RLUSD aims to supplement the use of XRP. Long's statements suggest that Ripple's strategy involves using RLUSD to boost the use of XRP rather than replace it, a move that could potentially attract more users to XRP Ledger.
In April, Ripple announced the introduction of a U.S. dollar stablecoin, marking its entry into the $150 billion stablecoin market. The Ripple stablecoin is expected to play a role that the crypto giant promotes as part of its On-Demand Liquidity offering. This offering aims to settle transactions quickly between banks and other financial institutions by using the XRP token as a 'bridge' currency.
Following the announcement of the stablecoin and the subsequent revelation of its ticker at the XRPL apex event held in June, there has been much speculation in the crypto community about how the new stablecoin will fit into Ripple's ecosystem and its potential implications for XRP. Concerns were also raised about whether the stablecoin would replace XRP in cross-border transfers. However, the recent comments from the Ripple president corroborate Ripple's previous assurances that it has not abandoned XRP as a payment token and that stablecoins would serve as more of a complementary product for the XRP ecosystem.