This is when RLUSD will appear on the list of other crypto exchanges – Ripple’s president

TL;DR

Ripple’s stablecoin is gaining traction, and major exchanges like Coinbase are expected to adopt it soon. The company’s president sees an XRP ETF as likely in 2025, with the pro-crypto leadership of the SEC potentially encouraging the launch of such products.

Leaders to embrace RLUSD “imminent?”

Ripple revealed its intentions to launch a stablecoin pegged to the US dollar in April last year. The product (called RLUSD) went through a testing phase in the following months before being officially approved by the New York Department of Financial Services (NYDFS) in mid-December.

Uphold, Bitstamp, Bitso, Moonpay, CoinMENA and others were the first cryptocurrency exchanges to adopt the stablecoin. Around Christmas, the bullish, backed by Peter Thiel, also got on the bandwagon.

However, biggies like Coinbase and Binance are yet to join the list. In a recent interview with Bloomberg, Ripple President Monica Long said that people should expect this move “imminently”.

The executive noted that the crypto market has been growing in recent quarters. He predicted that 2025 could also be successful for the industry, stating that stablecoins could play a crucial role in the process.

“We think the market will grow enormously over the next year. Our business doubled in payments last year, and we see a very strong growth trajectory for our payments solution, and with that, RLUSD will play a premium role,” Long added.

What about an XRP ETF?

Ripple’s president also speculated that US-based companies would introduce more cryptoETFs this year, and that an XRP exchange-traded fund “is likely to be next in line.”

“We think, especially with the change in administration, the approvals of those who file will accelerate,” Long suggested.

Let’s remember that the US Securities and Exchange Commission (SEC) will soon have a new leader: Donald Trump’s nominee, Paul Atkins. He will replace Gary Gensler, who has been considered a major enemy of the crypto industry. During his tenure, the securities regulator brought numerous lawsuits against cryptocurrency companies, and perhaps the most popular is the one against Ripple.

Gensler’s successor, Atkins, has shown a pro-crypto stance in the past, and the XRP Army believes this could lead to a favorable resolution of the legal battle that has been ongoing since December 2020.

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