Ripple Stablecoin (RLUSD) Launch Delayed

The launch of Ripple’s stablecoin, RLUSD, is reportedly set to be delayed, but Ripple still expects to launch before the end of the year (2024).

David Schwartz, the company’s CTO, confirmed the launch date and time during The Block’s Emergence conference in Prague, saying:

I remain optimistic that we will launch RLUSD by the end of the year, despite the challenges of our partners’ holiday schedules.

Ripple previously announced the stablecoin project in April, with plans to launch initially on both XRP and Ethereum.

Testing began in August, and the company has since secured partnerships with major exchanges like Uphold, Bitstamp, and MoonPay, as well as market makers like B2C2 and Keyrock to boost liquidity.

The launch is contingent on approval from the New York State Department of Financial Services (NYDFS), which Schwartz described as the gold standard for stablecoin regulation.

He added:

We are very much looking forward to clearing the launch hurdles, and we are confident that we will get there.

Returning to the price of Ripple, the cryptocurrency XRP has seen a huge surge in recent weeks, with the price of the coin rising more than 400% in a single month after Donald Trump won the US primary elections.

The coin’s market cap reached a yearly high of $164 billion, surpassing Solana to become the third-largest cryptocurrency.