Ripple with new stablecoin: RLUSD complements XRP portfolio

Ripple recently launched a new stablecoin named RLUSD, which, according to President Monica Long, is intended to complement rather than compete with the existing cryptocurrency XRP. Long expressed optimism about the future platform expansion of the stablecoin and also hinted at the prospect of an XRP ETF. Monica Long emphasized that RLUSD will serve to broaden the application range of Ripple products while coexisting harmoniously with XRP. Ripple aims to expand the presence of the new stablecoin on additional platforms, which is expected to promote market penetration and acceptance among users. In a conversation with Sonali Basak and Tim Stenovec on 'Bloomberg Crypto,' Long also expressed confidence about the imminent introduction of an exchange-traded fund (ETF) for XRP. This could allow Ripple to respond to the growing demand for regulated investment opportunities in the crypto sector.