Ripple CEO Brad Garlinghouse made an exciting announcement that could change the game for XRP. During the XRP Ledger Community Summit in Amsterdam, Ripple revealed the launch of a new stablecoin called Ripple USD (RLUSD). This stablecoin, backed by the US dollar at a 1:1 ratio, will initially be available on the XRP Ledger and Ethereum platforms.
Garlinghouse introduced RLUSD as a valuable addition to the XRP ecosystem, emphasizing its significance. However, the CEO did not disclose the exact release date of the stablecoin. The official Ripple account mentioned that RLUSD is expected to debut later this year.
In addition to RLUSD, RippleX, the development arm of the company, unveiled the XRPL EVM Sidechain. This innovative sidechain is designed to integrate Ethereum Virtual Machine (EVM) compatibility into the XRP Ledger (XRPL), opening up new possibilities for developers in areas like DeFi and real-world asset tokenization.
The XRPL EVM sidechain will be linked to the XRPL mainnet through a bridge using wrapped XRP (eXRP) as the native asset and gas token. This development marks a significant step forward for the XRP ecosystem and promises exciting opportunities for its community.
