The stablecoin market has seen significant growth in 2024 thanks to the increasing acceptance of cryptocurrency and the involvement of institutions. The current focus is on Ripple's new stablecoin, Ripple USD (RLUSD), which has just been approved.

- Ripple's CTO, David Schwartz, addressed concerns about the price volatility of RLUSD during its launch phase. He emphasized that RLUSD is designed to maintain a stable price of $1, but there may be temporary fluctuations due to an initial supply shortage.

- Schwartz warned that RLUSD is not a speculative opportunity but a stable tool for cross-border payments. He advised buyers not to get caught up in FOMO.

- RLUSD has received approval from NYDFS and will launch, targeting large institutions, playing a crucial role in Ripple's payment solutions. 🌍

- The stablecoin market is rapidly expanding with a value of $211 billion, and Ripple is looking to compete with major names like Tether and Circle. Schwartz predicts the market could exceed $2 trillion by 2028. 🚀