Stablecoins Poised for Exponential Growth, Says Ripple CEO
In a recent CNBC interview, Ripple CEO Brad Garlinghouse projected the stablecoin market could grow to $1-2 trillion within years. This forecast comes as the sector currently holds a $250 billion market capitalization, indicating significant expansion potential.
Ripple’s Strategic Entry into Stablecoins
Garlinghouse detailed Ripple‘s calculated move into stablecoins with RLUSD, their enterprise-focused offering that has already achieved a $500 million market cap. The appointment of BNY Mellon as custodian reinforces Ripple‘s commitment to regulatory compliance and institutional partnerships.
Navigating Regulatory Landscapes
The CEO emphasized Ripple‘s efforts to bridge traditional and decentralized finance, including applications for a U.S. banking license and Federal Reserve Master Account. These initiatives aim to align Ripple‘s operations with conventional financial institutions.
Industry Experts Weigh In
Henrik Andersson of Apollo Capital and Nick Ruck from LVRG Research support Garlinghouse’s outlook, citing the potential impact of the GENIUS Act. The legislation, which cleared Senate approval in June, could establish stablecoins as legal tender in the U.S.
XRP Gains Amid Market Developments
Concurrent with these advancements, Ripple‘s XRP token rose 7% to a seven-week high. The integration of RLUSD with payment platform Transak signals growing adoption within Ripple‘s ecosystem.
