In a highly anticipated discussion at the ongoing Korea Blockchain Week, Ripple CEO Brad Garlinghouse provided updates on the Ripple USD (RLUSD) stablecoin, which will operate on the XRP Ledger and Ethereum blockchain.
The event, which gathered industry leaders, developers and enthusiasts, was the perfect stage for unveiling the latest advancements in Ripple's technology and vision.
Apex round 2? @bgarlinghouse and @joelkatz take the stage at #XRPLZone Korea to discuss everything from the early days of building the XRP Ledger to how new programmability can help XRPL builders customize their applications, and upcoming plans for the official RLUSD launch! pic.twitter.com/snjMdS3M7y
— RippleX (@RippleXDev) September 4, 2024
According to updates broadcasted by RippleX, at the XRPL Zone Korea event, Ripple CEO and CTO Brad Garlinghouse and David Schwartz took the stage to discuss everything from the early days of building the XRP Ledger to how new programmability can help XRPL builders customize their applications and upcoming plans for the official RLUSD launch.
Ripple closer to launching RLUSD
Ripple is close to launching its U.S.-dollar pegged stablecoin, according to CEO Brad Garlinghouse, who indicated a launch timeline of "weeks."
Ripple announced its stablecoin ambitions in April, noting that the token would be "100% backed by U.S. dollar deposits, short-term U.S. government Treasuries, and other cash equivalents."
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RLUSD will be completely backed by U.S. dollars, tested with enterprise partners and is now in private beta. The stablecoin will initially be deployed on the XRP Ledger and the Ethereum blockchain, and it will adhere to Ethereum's ERC-20 token standard.
Ripple and the broader XRP community are dedicated to introducing new programmability, including smart contracts, to the XRPL developer ecosystem in 2025, both through the XRPL EVM sidechain (which is already in development) and by exploring native capabilities on the XRPL Mainnet.
