Ripple’s RLUSD Stablecoin Prepares for Launch on XRP and Ethereum Networks

• Ripple’s RLUSD stablecoin will operate on both the XRP Ledger and Ethereum simultaneously.
• RLUSD launch advances as Ripple targets the $2.8 trillion stablecoin market by 2028.
• Ripple is refining minting and burning processes to ensure a smooth stablecoin rollout.

Ripple is nearing the official launch of its highly anticipated stablecoin, RLUSD, which is expected to go live within the coming weeks. 

According to CEO Brad Garlinghouse, this move marks a significant milestone for the crypto company as it seeks to establish RLUSD as a stable, reliable asset in the evolving digital currency landscape. The stablecoin will be available on both the XRP Ledger and Ethereum networks, reflecting Ripple’s commitment to multi-chain operability.

Recently, the burning of 24 RLUSD on the XRP Ledger and 64 RLUSD on Ethereum marked another key development in the launch process. This strategic action highlights Ripple’s effort to test its systems for seamless operations across multiple networks. 

Furthermore, top Ripple executives have hinted at the possibility of RLUSD expanding to other blockchain networks, although specifics remain undisclosed.  

Ripple is positioning itself to capitalize on the expanding stablecoin market, which analysts project could reach a value of $2.8 trillion by 2028. 

While the total market capitalization of cryptocurrencies currently stands at just over $2 trillion, Ripple’s leadership is confident that RLUSD will carve out a substantial share of the stablecoin space. The exact supply of RLUSD and any potential limitations on its issuance have not yet been confirmed.

As Ripple advances through the beta testing phase, it is focused on refining the minting and burning processes to ensure a smooth launch. 

The company’s efforts to streamline its technology aim to deliver a stablecoin product that can be confidently entered the market. With its sights set on a major market share, RLUSD’s upcoming launch is expected to have significant implications for the broader crypto ecosystem.