Charles Hoskinson Discusses Potential Collaboration with Ripple for RLUSD
Ripple's RLUSD stablecoin is attracting attention despite its delayed launch. Cardano co-founder Charles Hoskinson expressed interest in integrating RLUSD into the Cardano ecosystem during an interview on the ADA-focused YouTube channel Big Pey. He mentioned productive discussions with Ripple executives Brad Garlinghouse and David Schwartz, emphasizing a shift from past hostilities to future collaboration.
Collaboration efforts are focused on Cardano’s Midnight and Marlowe projects. Midnight is a privacy-oriented sidechain, while Marlowe provides tools for creating smart contracts on the Cardano network. Hoskinson suggested the potential integration of XRP into the Midnight ecosystem, which could make XRP the third token on this sidechain, alongside its native tokens, NIGHT and DUST.
Market analysts believe that the RLUSD stablecoin is crucial for increasing XRP prices and enhancing the overall XRP ecosystem.
Investors Await Ripple RLUSD Launch
The anticipated launch of Ripple's RLUSD was delayed due to pending approval from the New York Department of Financial Services (NYDFS). Investors remain optimistic about a year-end launch.
Speculation regarding RLUSD has led to discussions about its potential effects on XRP. Analyst Lakeita Powell noted that RLUSD could reduce volatility in XRP transactions, enabling institutions to conduct large transactions more efficiently without concerns over currency fluctuations.
Moreover, the introduction of Ripple RLUSD could intensify competition in the growing stablecoin market, projected to reach multi-trillion dollar valuations by 2030. This would help mitigate concentration risks currently dominated by Tether's USDT.