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Ripple President Monica Long emphasized the complementary roles of the blockchain-native asset XRP and Ripple’s newly launched stablecoin RippleUSD (RLUSD) during an interview with Bloomberg on January 7. Addressing concerns about potential competition between RLUSD and XRP, Long clarified, "XRP serves as the foundational asset of the blockchain, while stablecoins like RLUSD play a supportive role." She described RLUSD as a 1:1 dollar-pegged token designed to facilitate seamless payments, particularly in cross-border transactions.
Long highlighted Ripple’s commitment to creating faster, cost-effective, and 24/7 cross-border payment solutions. She stated, "RLUSD will play a pivotal role in realizing these goals." The President also noted the widespread demand for dollar-based payment solutions among Ripple’s customer base, which includes payment service providers, financial institutions, and banks. Major global banks utilizing Ripple’s asset tokenization services have also begun adopting RLUSD.
Long reiterated XRP’s importance as the core asset of Ripple’s public blockchain. She underscored its role in enabling fast transactions, functioning as a bridge asset for diverse token exchanges, and facilitating low-cost blockchain transaction fees. XRP, she added, remains integral to Ripple’s ecosystem.
During the interview, Long highlighted the explosive growth of stablecoins, describing them as essential on-ramps and off-ramps between fiat and blockchain worlds. She cited the current stablecoin market size of $150 billion, projecting it to exceed $3 trillion in the coming years. Long emphasized the importance of regulatory compliance and trust in stablecoin adoption. "RLUSD operates under the stringent regulatory framework of the New York Department of Financial Services (NYDFS), which positions it as a gateway for regulated financial institutions to enter the blockchain space," she explained.
Long also expressed optimism regarding the approval of an XRP spot ETF in the U.S. She noted the growing trend of cryptocurrency spot ETFs gaining traction in recent months and predicted that XRP could be among the next to receive approval. "The launch of various cryptocurrency spot ETFs in the U.S. this year signals strong progress, and XRP is likely next in line," she said.
Monica Long projected a pivotal year ahead for the cryptocurrency market, driven by increasing demand for stablecoins and growing adoption of blockchain solutions. Ripple’s payment business, which doubled in size last year, is set to benefit from RLUSD’s integration. As Ripple continues to expand its offerings, the complementary use of XRP and RLUSD underscores the company’s strategy to bridge traditional finance and blockchain innovation, paving the way for broader adoption and growth in the crypto ecosystem.
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