Today, it was announced by the creator of Cardano, Charles Hoskinson, that they are exploring the possibility of incorporating RLUSD, a newly developed stablecoin from Ripple, into their blockchain system.
Ever since its debut in December, RLUSD has been garnering significant attention due to its aspirations to stand out as a prominent stablecoin. If it were to integrate with a DeFi platform such as Cardano, this could significantly boost its popularity and recognition.
Cardano In Talks With Ripple
In a lively online conversation, Charles Hoskinson, the creator of Cardano, disclosed his recent dialogues with Ripple. Not even a month has passed since RLUSD received US regulatory clearance, yet it’s already creating quite a stir in the cryptocurrency sector.
It integrated Chainlink Standard last week, and now it’s building a new partnership:
If there’s a feasible way to incorporate RLUSD, I plan to do so as a contribution to the community. The Cardano platform would greatly benefit from a robust stablecoin ecosystem, including USDM, Djed, and potentially RLUSD. We’ve already had discussions with the RLUSD team, and our conversations are ongoing,” Hoskinson stated.
wording suggestion: The positive reputation that Ripple is building across various cryptocurrency segments may have led to this new partnership with Cardano, adding another successful collaboration to its list.
Prior to its debut, the company secured worldwide backing for the RLUSD digital coin, which recently took center stage in a notable charitable event. Hoskinson commended the organization, stating that it “boasts a genuine community, strong leadership, and a clear mission.
Recently, the value of Cardano’s ADA token has seen a volatile trend. Just a week ago, it was heading towards a two-year peak, but soon after, negative market sentiment transformed price barriers into a steep decline.
As an analyst, I find myself observing that long-term investors continue their efforts to maintain a solid price point for Cardano. However, the recent Ripple deal presents a promising opportunity for Cardano to garner substantial positive attention in the public eye.
Ripple, in turn, could significantly benefit from combining RLUSD with Cardano, as they aim to compete against established stablecoins using RLUSD. Achieving this goal necessitates widespread usage, and Ripple is actively pursuing exchange acceptance. However, integrating with the major DeFi blockchain ecosystem would unlock numerous additional possibilities.
Essentially, both sides are eager for these discussions to thrive, yet no specific outcomes have been decided upon so far. It’s unlikely that Hoskinson would disclose the negotiations if things weren’t progressing positively.
Nonetheless, it’s possible that the ultimate deal between Ripple and Cardano may include additional conditions that are as of now hard to foresee.
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2025-01-14 02:23