Ripple President Monica Long suggests an XRP ETF could follow bitcoin and ether ETFs, citing regulatory momentum. Learn about Ripple’s RLUSD stablecoin and its role in DeFi.
Ripple President Hints at XRP ETF Amid Changing U.S. Crypto Landscape
Ripple President Monica Long indicated that an XRP exchange-traded fund (ETF) might be on the horizon following the approval of bitcoin and ether ETFs. Speaking in a Bloomberg interview on Tuesday, Long suggested that favorable legislative changes and a potential new administration could expedite ETF approvals, including one for XRP.
I think we will see more spot ETFs this year coming out of the U.S., and I think XRP is likely to be next in line after bitcoin and ether, Long said.
Especially with the administration change, the approvals of those filings will accelerate, she added.
Especially with the administration change, the approvals of those filings will accelerate,” she added.
Ripple is also expanding its payment operations with its RLUSD stablecoin, which is already regulated under New York Department of Financial Services standards. Long shared that RLUSD will soon be available on additional exchanges, further enhancing its utility for decentralized finance (DeFi) applications.
RLUSD Stablecoin: Key to Ripple’s Growth
RLUSD, Ripple’s regulated stablecoin, is playing a critical role in its operations. The company recently adopted the Chainlink standard for interoperability to boost RLUSD’s integration across DeFi protocols. Ripple anticipates RLUSD will significantly influence blockchain-based payments.
XRP ETF Filings Await Decision
Several asset management firms, including Bitwise, Canary Capital, WisdomTree, and 21Shares, have filed for XRP ETFs. However, these filings are still under review. The prospect of an XRP ETF adds optimism to the evolving U.S. crypto regulatory environment, which has seen increased interest in spot crypto ETFs.
Ripple’s vision aligns with the growing demand for crypto-backed financial products and the strengthening regulatory frameworks in the U.S. market.
Stay updated on Ripple’s developments and ETF prospects as crypto legislation evolves in the U.S.
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