In
an

interview
with
Frank
Chaparro
on
“The
Scoop,”
Ripple
President
Monica
Long
elaborated
on
the
company’s
plans
to
launch
a
US
dollar
stablecoin
(RLUSD)
and
discussed
the
potential
for
an
XRP
exchange-traded
fund
(ETF).
This
comes
after
gaining
significant
regulatory

clarity
from
the
US
courts
last
July
regarding
XRP’s
status,
not
as
a
security
but
as
a
commodity,
which
has
catalyzed
new
business
opportunities
for
Ripple
in
the
United
States.

 

Ripple’s
Strategic
Vision
For
RLUSD

According
to
Long,
the
decision
to

introduce
a
stablecoin
is
driven
by
the
needs
of
Ripple’s
existing
payment
clients
and
banks,
emphasizing
the
role
of
stablecoins
in
facilitating
cost-efficient
and
transparent
transactions.
“The
US
dollar
stablecoin
is
aimed
at
optimizing
efficiency
in
major
payment
corridors
where
liquidity
is
abundant,
such
as
USD
to
EUR
transactions.
In
contrast,
XRP
will
continue
to
serve
as
a
bridge
asset,
particularly
in
more
costly
and
less
liquid
payment
corridors,”
Long
explained.

She
highlighted
that
stablecoins
offer
a
complement
to
XRP
in
Ripple’s
ecosystem,
serving
different
needs
in
the
payments
landscape.
The
development
of
the
stablecoin
has
been
in
the
works,
with
Ripple
leveraging
its
robust
partnerships
and
regulatory
compliance
to
ensure
the
new
offering
is
well-received
and
trusted
in
the
market.

Notably,
Ripple’s
ambition
extends
beyond
payments
into
broader
blockchain
solutions
for
enterprises.
Long
elaborated
on
the
strategic
shift,
“We’ve
identified
some
new
opportunities
for
Ripple
to
be
a
holistic
enterprise
blockchain
infrastructure
provider.”
This
includes
enabling
financial
institutions
to
engage
in
activities
such
as
real-world
asset
tokenization
and
providing
end-to-end
infrastructure
for
various
financial
services.

This
expansion
is
supported
by
significant
infrastructural
investments,
including
connectivity
between
blockchains
and
traditional
financial
rails,
compliance
features,
and
custody
services
acquired
through
Ripple’s

 

acquisition
of
the
company
Metaco.

Despite
Ripple’s
legal
victory
providing
some
relief,
Long
expressed
concerns
about
the
ongoing
regulatory
challenges
in
the
US,
particularly
with
the
SEC’s
aggressive
stance
on
crypto
regulation.
“The
clarity
around
XRP
specifically
has
been
very
helpful
[…]
[but]
the
overall
temperament
of
the
US
government,
I
mean
the
SEC,
has
not
slowed
down
its
war
on
crypto;
it’s
only
accelerated,”
Long
stated.

However,
she
also
noted
positive
regulatory
developments
internationally,
where
countries
like

Singapore
and
Brazil
have
implemented
clear,
supportive
regulations
for
crypto
businesses.
“Places
like
Europe
[…]
with
the

MiCA,
has
been
a
tremendous
turning
point,”
Long
added,
acknowledging
the
supportive
environment
for
blockchain
innovation
in
these
regions.

Outlook
For
An
US
Spot
XRP
ETF

Discussing
the
potential
for
an
spot
XRP
ETF
in
the
United
States,
Long
underscored
the
significance
of
the
legal
clarification
of
XRP’s
status.
“XRP
has
been
trading
within
the
top
10
for
how
long,
maybe
its
entire
life
and
on
the
top
exchanges
like
Coinbase,”
Long
remarked.
She
further
highlighted
the
unique
position
of
XRP:
“The
court’s
ruling
last
year
[…]
that’s
pretty
meaningful”
and
added,
“with
the
clarity
that
XRP
is
not
a
security,
and
given
its
sustained
high
trading
volumes,
it’s
logical
to
consider
an
ETF
as
a
sensible
next
step.”

An
ETF
would
not
only
capitalize
on
XRP’s
market
presence
but
could
also
attract
more
institutional
investors,
broadening
the
asset’s
accessibility
and
integrating
it
more
deeply
into
the
traditional
financial
markets.

At
press
time,
XRP
traded
at
$0.47378.

Featured
image
from
YouTube,
chart
from
TradingView.com

Go to Source
Author: Jake Simmons

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