In December last year, Ripple marketed his first own Stablecoin: RLUSD. The CEO of the American blockchain company sees strong growth in the stablecoin market, whereby Ripple can, according to him, play a key role.
XRP lawyer John Deaton also endorses this and states on social media platform X that the adoption of stablecoins is crucial for the future of the crypto sector.
‘Market can moderate’
According to Deaton, the Stablecoinmarkt can become ten times as large in the next five years. For comparison: the total market capitalization of Stablecoins is currently more than $ 200 billion. Deaton therefore provides a possible growth to $ 2 trillion. With Rlusd, Ripple hopes to get a considerable market share, which may result in the company big profits.
Federal adoption as a growth motor
According to the American Minister of Finance, Scott Bessent, one of the most important motives behind this growth is the increasing federal acceptance of Stablecoins. He emphasizes that it is strategic for the US to maintain the dollar as a world reservation. Stablecoins can be a powerful tool.
Bessent expects large banks to launch their own Stablecoins as soon as the regulations become clearer. The current US government is actively working on creating that regulatory framework. In that light, the launch of RLUSD is not just an expansion of the Ripple ecosystem, but a strategic move to maintain influence in a rapidly developing market. According to him, anyone who ultimately manages the most reliable digital dollar will receive a strong position of power.
Growing role for RLUSD
RLUSD has been active for three months and has built up a market capitalization of $ 176 million during that period. In the last 24 hours, the trade volume was more than $ 10 million. Yet RLUSD is still small compared to the market leaders: Tether (USDT) and USD Coin (USDC) have a market capitalization of $ 143 billion and $ 59 billion respectively.
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Source: https://newsbit.nl/gaat-ripple-domineren-in-de-stablecoinmarkt-dit-is-waarom-rlusd-zo-belangrijk-is/
