Charles Hoskinson, founder of Cardano, has revealed ongoing discussions between his team and Ripple regarding the integration of the Ripple USD (RLUSD) stablecoin. In a recent post, Hoskinson stated that they are actively exploring the possibility. This development comes amid social media debates surrounding Cardano’s inability to integrate popular stablecoins like USDC.
Cardano and Ripple Collaboration
Hoskinson’s announcement sheds light on a potential partnership that could strengthen Cardano’s position in the stablecoin market. According to Hoskinson, the Cardano Foundation had an opportunity to integrate USDC in 2021, but a deal with Circle, the issuer of USDC, did not materialize. He emphasized that Input Output Global (IOG), the company behind Cardano, would not use its profits to fund ecosystem initiatives, stating:
“IOG’s profits are not public money.”
The newly launched RLUSD stablecoin has already gained traction with listings on prominent exchanges like Bitstamp and Bullish. Ripple President Monica Long recently expressed optimism about RLUSD being listed on more exchanges soon.
The Role of RLUSD in Cardano’s Ecosystem
Hoskinson praised the RLUSD team as “smart professionals” and expressed openness to integrating RLUSD into Cardano if a viable path exists. He stated:
“If there’s a reasonable way to integrate RLUSD, I’ll welcome it as a gift to the ecosystem. Cardano needs a robust stablecoin ecosystem, from USDM and Djed to RLUSD.”
Currently, RLUSD operates on Ethereum and XRP Ledger, but Ripple has indicated plans for broader blockchain support in the future.
Future Prospects for RLUSD
Ripple’s efforts to expand RLUSD’s adoption highlight the growing importance of stablecoins in decentralized finance. While the specifics of integrating RLUSD into Cardano remain unclear, the potential partnership could mark a significant milestone for both platforms.
As the conversation unfolds, The Bit Journal will continue to monitor developments, providing updates on this potential collaboration and its implications for the broader crypto ecosystem.
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