Ripple CEO Brad Garlinghouse says the firm’s dollar-pegged crypto asset will become a top stablecoin by the end of the year after the U.S. Securities and Exchange Commission (SEC) dropped its lawsuit against the payments platform.
In a new interview, Garlinghouse says that RLUSD – which launched in December 2024 – will grow into a top-five stablecoin after the regulatory agency dropped its lawsuit against Ripple Labs for allegedly violating securities law.
According to Garlinghouse, the stablecoins sector of the industry should see massive growth in the next few years.
“I think we’re underestimating how big [stablecoins] might get. Today, that market is about $230 billion. Some smart people think that may go up 10x in the next five years – I think that’s probably right…
Ripple launched its own stablecoin at the end of the last year that’s already ahead of our own internal forecast in terms of where we are at this point…
We’re still really small, but the goal is by the end of the year, for RLUSD, Ripple’s stablecoin, to be one of the top five in the market, and I think the whole market is going to grow dramatically this year.”
Earlier this week, the SEC announced it is dropping its case against Ripple Labs for allegedly selling unregistered securities, causing XRP, the digital asset associated with the firm, to rally.
Ripple was initially sued by the SEC in 2020, but a judge in 2022 ruled that the open-market sales of XRP to retail investors do not qualify as securities.
XRP is trading for $2.47 at time of writing, a 2.4% decrease on the day while RLUSD has a market cap of $169.6 billion.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/k_yu/Tun_Thanakorn
