- Anderson is a well-known digital asset expert who has made bold claims that Ripple could be launching a stablecoin specifically for U.S. On-Demand liquidity (ODL), customers.
- Ripple’s move to create a stablecoin that can be used to transact U.S. ODLs is a strategic one to help it maintain a foothold on U.S. markets despite the regulatory pressure.
Anderson, a renowned digital asset researcher, has made assertive claims about Ripple’s upcoming stablecoin. He suggests a connection with On-Demand Liquidity.
Anderson stated in a recent post that Ripple plans to introduce a stablecoin for U.S. ODL clients, rebranded Ripple Payment. This is amidst the ongoing legal fight with Securities and Exchange Commission. As reported by Crypto News FlashRipple already announced that it intends to enter into the $150 billion stablecoins markets citing an enormous opportunity. next decade.
Anderson predicted that Ripple would unveil the stablecoin as a way to help support institutional decentralized financial (DeFi) as well as automated market-maker (AMM) activities. It could also be used to simplify ODL transaction within the United States.
Ripple has confirmed they are using stablecoins for ODL currently in the US (due the the suit).
Maybe Ripple launches their own USD stablecoin for AMM use and institutional deFi as well as for ODL in the US.
— Anders 🏁🌏 (@X__Anderson) April 23, 2024
Anderson’s comment implies that Ripple’s choice to launch a Stablecoin was in alignment with its plan to overcome regulatory obstacles in the United States. Ripple, which is embroiled in a lawsuit with the SEC and faces accusations of selling XRP unregistered to institutional and retail investors in the U.S.
A New York Federal Court ruled Ripple’s XRP sale to retail clients did not qualify as an investment contract, but concluded the company had violated securities laws by selling XRP institutional customers.
Ripple plans to tap into the US market again
Ripple’s long-running legal dispute has affected its activities in the U.S. and prompted the company shift their focus towards international clients. Brad Garlinghouse revealed to Ripple that approximately 95% of the company’s clients are outside the U.S.
Monica Long, Ripple’s president, also testified in court that, following SEC charges made in December 2020 by the SEC, Ripple’s Singapore subsidiary took the initiative in establishing new XRP contracts with customers using the On-Demand Liquidity service (ODL).
In the midst of the SEC’s investigation into Ripple’s institutional sales of XRP, the firm is looking at ways to provide ODL services within legal boundaries for U.S. customers. This has sparked discussion amongst prominent crypto figures, like Anderson, who believe that Ripple will introduce their stablecoin as a way to ensure compliant ODL transaction in the U.S.
Fred Rispoli also echoed these sentiments when he examined Ripple’s most recent legal filings. Rispoli identified indications that Ripple’s upcoming stablecoin may enable U.S. clients to conduct ODL transactions, without having to rely on XRP.
…carry its burden. It’s interesting (or sad?) Ripple has confirmed that the stablecoin was issued to US ODL to allow US clients to access ODL. $XRP (p7, Ex. A, para 38). Ripple’s statement about the SEC is also a great example. “losing” In its face (p15). 3/8
— Fred Rispoli (@freddyriz) April 23, 2024
Ripple will unveil its stablecoin in both the XRP Ledger network (XRPL), and Ethereum, within the next year. However, despite the discussions among industry experts, the San Francisco-headquartered company has yet to officially confirm these speculations.
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Source: www.crypto-news-flash.com