In a recent interview, Ripple CEO Brad Garlinghouse has assured that its stablecoin launch is “very close.” The highly anticipated RLUSD stablecoin has always been poised to launch in 2024. Now, Garlinghouse has said that that very launch date is a mere weeks away.
The year has been an up-and-down one for the company. Although its years-long legal battle with the US Securities and Exchange Commission (SEC) has come to an end, its XRP native token has struggled throughout August. There are hopes that the incoming stablecoin could revitalize sentiment around the ecosystem.
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Ripple CEO Says Stablecoin Launch is “Weeks” Away
Heading into 2024, Ripple was on a short list of cryptos with immense potential. That has not been the case at the year’s midpoint, but things are certainly looking like they are poised to turn around. A big part of that may be interest derived from one of the year’s most interesting announcements.
Ripple CEO Brad Garlinghouse recently said that Ripple’s stablecoin option is “very close” to its official launch. Speaking in Seoul, South Korea, the executive discussed where the project was in relation to its ongoing rollout plan. Moreover, he noted that its arrival is certainly nearing.
Also Read: Ripple CEO Brad Garlinghouse Says XRP ETFs May Come in 2025
“We’re in a private kind of closed beta,” the CEO said. “It’s called Ripple USD. RLUSD has been minted in that framework. We will certainly launch soon. Weeks, not months.” The project reportedly began testing on two blockchain networks.
Additionally, Ripple President Monica Long said that the project was designed to be a complement to the cross-border payment firms’ existing offerings. That should be good news for XRP. Over the last 30 days, it has gained more than 5.9% according to CoinMarketCap. However, it is still down 1.8% the last week, trading at $0.558.
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