The Ripple (advent) calendar. On December 4, Fox News Business claimed that Ripple’s stablecoin could be launched at the beginning of December, but ultimately, this was not the case. Asked about the timetable, the technical director of the house finally declared that a launch before the end of the year was still envisaged, even if he recognized “challenges” important to note. Return to the explanations of David Schwartz, present last week at the conference Emergence in Prague.
- Ripple did not launch its RLUSD stablecoin in early December as planned, but is still planning a launch before the end of the year despite significant challenges.
- The tests of the RLUSD in June were conclusive and several platforms and market makers are ready to support it, although the green light from the New York regulator is still awaited.
David Schwartz, Ripple’s CTO, still hopes so, but admits there are « challenges »
In terms of good news, we know that Ripple carried out sound tests RLUSD last June and that they were conclusive. We also know the names of the partner platforms ready to list this new stablecoin which are Uphold, Bitstamp, Bitso, MoonPay, Independent Reserve, CoinMENA and Bullish as well as the names of two market makers which will support market liquidity: B2C2 and Keyrock.
Resolutely optimistic, David Schwartz therefore declared on the stage of the event Emergence in the Czech capital, that he was always optimistic:
“I’m still hopeful that we’ll launch it by the end of the year, but the upcoming holidays are an obstacle that could cause some delay. »
David Schwartz, CTO Ripple – Source : The Block
Because on Wall Street as in Paris, the end of the year is often a period of calm in companies, with many employees leaving for vacationand this is precisely what could block the launch of RLUSD before 2025.
Ripple does not want to rush and will favor a « coordinated launch » rather than fast
“The annoying part for us is that we are getting closer to the holidays when we have partners who would like to be up and running. I’m really hoping it happens this year, but unfortunately once you start going towards Christmas and New Years, people aren’t there anymore. »
David Schwartz, CTO Ripple – Source : The Block
Car Ripple does not want to rush and prefers to prioritize a launch “well coordinated” et “no problem” rather than hurrying. The project is still awaiting the green light from the New York regulator who is slow to give its response:
“There are many parameters to take into account in the project and one of the most important is the fact that we are a company registered in the State of New York and therefore regulated by the New York State Department of Financial Services (…) who will have to review the processes, compliance and all these essential things which are linked to the issuance of a stablecoin. »
David Schwartz, CTO Ripple – Source : The Block
Confident in a positive outcome, we can sense that he is still tired of having to tirelessly answer the same questions and he admitted that he was looking forward to “the headaches are behind him!” » before releasing a final dose of opium to his fans: “but we will get there”.
Will we have a surprise announcement before Christmas? Before New Year’s Day? Whatever happens, we can reasonably conclude from these statements that the RLUSD will be available on the markets at the beginning of next year and that a new stablecoin will therefore compete with the master of the place: Tether’s USDT and its 137 billion capitalization dollars.
Teacher in the city as well as on stage, popularizing and explaining is my daily life. A practicing crypto-agnostic, I seek light in the darkness of the internets while trying to avoid factional quarrels! While waiting for the revelation, I am buying Bitcoin for my children and I am enthusiastic about projects aimed at the general public.
