The countdown has begun for Ripple, which is preparing to launch its own stablecoin.
Ripple CEO Brad Garlinghouse said at the Korea Blockchain Week held in Seoul, the capital of South Korea, that Ripple is very close to launching its US dollar-pegged stablecoin, RLUSD.
“RLUSD” Coming Within Weeks!
At this point, Garlinghouse said that Ripple will launch RLUSD “in weeks, not months.”
“We are in a special kind of closed beta and it's called Ripple USD. RLUSD was printed in this framework. We will definitely launch it soon. It will come in weeks, not months.
“18 months ago, USDC went bankrupt and we felt there was an opportunity for a credible player who already works with a lot of financial institutions to enter this market, so we decided to enter the stablecoin market.”
We Are Not Considering an IPO!
Brad Garlinghouse, who also answered questions about Ripple's IPO, said that they have no interest in, and are not considering, Ripple's IPO in the US.
“The SEC approved Coinbase to go public in the US, and now the SEC is suing Coinbase for the same things they approved. So one of the first pieces of advice I give to entrepreneurs who ask me about starting crypto companies is: Don’t start in the US,” Ripple CEO said.
Garlinghouse also criticized SEC Chairman Gary Gensler’s approach to crypto, calling the lawsuit filed against NFT marketplace OpenSea unfortunate.
“There are not many companies that can stand up to a bully. The SEC has a lot of power and it takes a lot of money and faith to fight that. And I think that's really unfortunate for OpenSea because Ripple spent over $150 million defending ourselves. Not every company can do that.”
Ripple CEO recently said that he is more optimistic than ever about cryptocurrencies in the next five years.
*This is not investment advice.
