Shortly after the launch of the RLUSD stablecoin, issued by Ripple, the company stated that it is planning to bring its new product to the world’s largest cryptocurrency exchanges, such as Coinbase, Binance and others.
Ripple Senior Vice President of Stablecoins Jack McDonald stated to the American press have discussed with other exchanges the incorporation of RLUSDhighlighting Coinbase, which is the largest exchange in the US.
This comes when the Bitstamp exchange, which is one of the most important in the world, announced the incorporation of the Ripple stablecoin, as reported by CriptoNoticias.
According to McDonald, there are certain steps to complete before exchanges add to the stablecoin, since “there are a lot of things that happen” before these additions take place. He added that listing a cryptocurrency on an exchange “is different than the New York Stock Exchange, where basically the plumbing is the same.”
“Due to its very nature for cryptocurrencies, there are different chains that these tokens are issued on, so you need to be able to support the underlying blockchain and the asset that is issued on that given blockchain,” McDonald explained.
The specialist did not count how many exchanges will add to that stablecoin, but he thinks that By the end of this year several platforms will joinincluding Coinbase and Binance, the largest cryptocurrency exchanges in the world.
“Exchanges have very strategic relationships with a stablecoin since they want a partner and have an economic relationship,” he said. “There is a very well understood relationship between Coinbase and Circle USDC, or you could look at Binance with FDUSD to where they are sort of a strategic exclusive. And that’s why we are having all kinds of conversations,” he said.
Furthermore, he highlighted that for exchanges trading volume is important, indicating that these companies “also want to make sure that the volume is worth it because there is a technological push and then continuous support to do it well. And they want to make sure there is demand for it.”
McDonald’s comments come in a context in which RLUSD targets the European market and is emerging as an alternative to USDT, as reported by CriptoNoticias. While RLUSD has not yet received the approval required by the Regulation for the Market in Cryptoassets (MiCA) that came into effect this December 30 in the European Union, Ripple officials have stated that The company is “in the process of applying for licenses” that are granted in the EU under the new regulation.
For McDonald, in 2025 backed stablecoins are the ones that will last. “Only stablecoin issuers with institutional backing and strong compliance frameworks will endure the ‘war of attrition.’ “Smaller players face insurmountable challenges due to the high costs of regulatory compliance,” he said.