Ripple's CEO, Brad Garlinghouse, has announced that the company will prioritize its own stablecoin, RLUSD, over market leaders USDC and Tether for its On-Demand Liquidity (ODL) product. This strategic decision reflects Ripple's confidence in RLUSD's potential, especially within decentralized finance (DeFi) platforms.
During a discussion on Thinking Crypto, Garlinghouse elaborated on this move, suggesting it aligns with Ripple's broader ambitions, including a potential initial public offering (IPO). Although specific details on how RLUSD will enhance ODL were not fully disclosed, this change signifies Ripple's commitment to leveraging its proprietary digital assets.
Ripple intends to integrate RLUSD in more markets, potentially influencing the future landscape of stablecoins in DeFi. This decision marks a pivotal point for the company as it seeks to strengthen its position amid a competitive stablecoin ecosystem dominated by long-established players like USDC and Tether.
Source: coinedition.com ↗