Neil DeSilva, the former CFO of PayPal Digital Currencies, and Ripple are exploring a partnership to
Neil DeSilva, the former CFO of PayPal Digital Currencies, and Ripple are exploring a partnership to create a sustainable blockchain business. The new venture could involve XRP and potentially push the altcoin towards $1.
According to an X post by Ripple, DeSilva and Ripple CFO Jon Bilich discussed minimizing risks in digital asset exposure while building their sustainable blockchain business at the Ripple Swell Conference in Miami. They also touched on the future of tokenization and stablecoins.
Ripples Stablecoin Ambitions
This news follows Ripples recent announcement that it will launch a U.S. dollar-backed stablecoin, RLUSD, aiming to compete in the $172 billion stablecoin market currently dominated by Tethers USDT.
In an October 17 X post, Ripple CEO Brad Garlinghouse said RLUSD has been in development for a year and predicted it will become “the gold standard for enterprise-grade stablecoins—built on trust, liquidity, and compliance.”
Kicking off Ripple Swell with a bang!
RLUSD has been nearly a year in the making, and with our trusted exchange partners, market makers, and advisory board, RLUSD is set to become the gold standard for enterprise-grade stablecoins—built on trust, liquidity, and compliance.
— Brad Garlinghouse (@bgarlinghouse) October 16, 2024
RLUSD‘s development is being overseen by Ripple’s exchange partners, market makers, and an advisory board. Exchange partners include BitStamp, Uphold, Bullish, Bitso, Moonpay, CoinMENA, and Independent Reserve.
XRP on a Bullish Path?
Ripple is clearly pursuing several projects that could benefit XRP, the seventh-largest cryptocurrency by market capitalization. XRP is currently trading at $0.5605, up 3.58% in the past 24 hours. The altcoin has a market cap of $31.75 billion, according to CoinMarketCap data.
The Relative Strength Index (RSI) reads a value of 52.27 which means that the bulls are overall in charge of the digital assets price action and the gradient of the line suggests that higher prices are possible in the near future.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Thune helped cosponsor a crypto bill in 2022 called the Digital Commodities Consumer Protection Act
North Korean Malware Targets macOS Users by Evading Apple Notarization
DeltaPrime Protocol Attacked on Arbitrum and Avalanche, Resulting in $4.8 Million Loss
Polymarket Founder Raided by FBI After Trump Win, Company Says
0.00