Ripple’s Stablecoin to Expand Availability on Major Exchanges
Ripple President Monica Long has announced that the company’s USD (RLUSD) stablecoin will soon be listed on major cryptocurrency exchanges. In an interview with Bloomberg, Long stated that the expansion of RLUSD’s distribution and availability on other exchanges is ongoing, with more announcements expected “imminently.”
Current Availability and Future Plans
RLUSD was launched on December 17 on the Ethereum and XRP Ledger, following regulatory approval from the New York Department of Financial Services. The stablecoin is currently available on several exchanges, including Archax, B2C2, Bitso, Bullish, Coinmena, Independent Reserve, JST Digital, Keyrock, Mercado Bitcoin, MoonPay, and Uphold. Ripple has also confirmed that RLUSD will soon be available on Bitstamp, Flowdesk, and Zero Hash.
Partnership with Chainlink
In addition to expanding its exchange availability, Ripple has partnered with Chainlink to bring RLUSD to more users across the decentralized finance (DeFi) network. This partnership, announced on January 7, aims to increase the adoption of RLUSD and provide greater utility to users.
XRP ETF on the Horizon
Long also expressed optimism about the possibility of an XRP exchange-traded fund (ETF) being approved in the near future. With several crypto spot ETFs expected to be launched this year, Long believes that XRP is likely to be next in line after Bitcoin and Ether. This prediction is supported by Ripple CEO Brad Garlinghouse, who stated in October that an XRP ETF is “inevitable” despite ongoing legal issues between the US Securities and Exchange Commission (SEC) and Ripple.
Regulatory Environment and Administration Change
The change in administration in the US is expected to accelerate the approval of ETF filings, including those for XRP. The incoming administration is considered pro-crypto, with several key appointments made, including Paul Atkins as the next SEC Chair. This shift in regulatory environment is likely to have a positive impact on the cryptocurrency market, including the approval of ETFs.
Conclusion
In summary, Ripple’s RLUSD stablecoin is set to expand its availability on major exchanges, with more announcements expected soon. The company’s partnership with Chainlink aims to increase the adoption of RLUSD, while the possibility of an XRP ETF being approved in the near future is considered likely. The change in administration in the US is expected to have a positive impact on the regulatory environment, accelerating the approval of ETF filings and supporting the growth of the cryptocurrency market.
Source: Coinjournal.net
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