Ripple's stablecoin launch has been delayed but still possible by the end of the year

Key Takeaways

Ripple's stablecoin, RLUSD, is expected to launch before the end of the year despite possible delays.
Ripple's XRP recovers 15% this week, but Trump's inauguration could set the stage for 2025 growth.

Ripple's long-awaited stablecoin Ripple USD (RLUSD) may be delayed, but could still launch by the end of 2024, according to report by The Block.

Ripple CTO David Schwartz shared his hopes of achieving the year-end target during a speech at The Block's Emergence conference in Prague on Friday.

“I'm still optimistic that we'll launch before the end of the year,” Schwartz said, noting that holiday schedules could create challenges for Ripple's partners.

The company announced its stablecoin initiative in April, planning an initial launch on XRP Ledger and Ethereum.

After beginning testing in August, Ripple secured partnerships with exchanges including Uphold, Bitstamp, and MoonPay, along with market makers B2C2 and Keyrock for liquidity support.

The release requires approval from the New York State Department of Financial Services (NYDFS), which Schwartz described as “the gold standard for stablecoin regulation.”

“The stable is launched through a New York state trust and managed by the NYDFS,” Schwartz said. “We're really looking forward to putting headaches behind us, but we'll get there.”

Ripple market activity has reflected the recent developments.

After Donald Trump's victory in the primary elections on November 6, Ripple's XRP token increased by more than 400% in just one month.

It reached a high annual market cap of $164 billion, overtaking Solana to become the third largest crypto by market capitalization.

Although XRP has retreated more than 15% this week, it was hired Paul Atkins as Chairman of the SEC and Trump's upcoming inauguration on January 20 could lay a solid foundation for further growth in 2025.