Cardano $1.1 Charles Hoskinson, founder of blockchain payment company Ripple 
$2.6 He made statements about the RLUSD stablecoin newly launched by Labs Inc. Hoskinson replied to the update on Ripple Labs’ official X account: “Well done, Ripple!” wrote.
Charles Hoskinson
Across the crypto industry, there are approximately 195 stablecoins backed by US Dollars or other reserves. Tether (USDT) and Circle (USDC) control more than 85% of the total stablecoin market capitalization, which exceeds $212 billion. Despite this structure, companies such as Ripple Labs continue to strive to break the dominance of USDT and USDC.
Cardano Founder Charles Hoskinson’s recognition of the launch of RLUSD on its mainnet is seen as a way to support the growth of competition in the industry. While it remains unclear how quickly RLUSD will begin to compete with its largest rivals, broad industry support ensures it is off to a good start.
Well done, Ripple!
—Charles Hoskinson
Will RLUSD Be Launched on the Cardano Network?
Ripple Labs, RLUSD stablecoin XRP Ledger (XRPL) and Ethereum 
$4,025.5 conducted beta tests on its network. The timeline for expanding the token beyond these two networks remains unclear, but there are signs of a possible expansion into Cardano.
During this period, Charles Hoskinson’s relationship with the ecosystem is improving, despite the previously tense relationship between the Cardano founder and the XRP community. According to previous reports, Hoskinson and Ripple CTO David Schwartz held talks about Midnight Network and XRP in November.
While it remains unclear what this might mean for the future of both networks, it points to the potential for working together.
Ripple Labs’ launch of the RLUSD stablecoin on many global exchanges and the support of the Cardano founder could ensure that RLUSD gets a strong start in the crypto market. However, the performance of the stablecoin and the competition in the market will determine its future success.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
