Ripple’s president stated that the stablecoin market is mainly driven by the demand for access to U.S. dollars and a global fiat-denominated payment system powered by blockchain technology. The company is focusing on regulatory compliance and institutional relationships to bring a stablecoin to market.
Ripple CEO Brad Garlinghouse also expressed similar sentiments at Consensus, but without specifying a launch timeline. Despite entering the stablecoin market, Ripple emphasized the continued importance of XRP, noting its role as a bridge asset for various currency pairs and its potential as a long-term strategy.
The decentralized ledger is expected to maintain liquidity and support real-world asset tokenization, which has garnered increasing interest from financial stakeholders. There are discussions about Ethereum being the second cryptocurrency and potentially posing a challenge for investors, both retail and institutional, to comprehend.
However, Long believes that with improved crypto education and industry leaders such as BlackRock taking the lead, concerns about the failure of spot Ether ETFs are unwarranted.
