Ripple Stablecoin to Launch by the End of the Year? David Schwartz Reveals Launch Forecast

The stablecoin of Ripple , RLUSD, to launch by the end of the year? The company’s CTO, David Schwartz, recently revealed his estimate, suggesting his hope for a launch as early as 2024.

Members of the cryptocurrency community are eagerly awaiting the launch of Ripple Labs’ stablecoin RLUSD. Some speculations highlighted the potential launch on December 4, however, the company has now come out with a public explain why the launch was delayed.

In an official statement, Ripple said that the delay in the launch of its RLUSD stablecoin was due to regulatory issues with the New York State Department of Financial Services (NYDFS). Ripple is getting closer to securing approval from the NYDFS for its RLUSD stablecoin.

The company may be close to announcing the official launch of its Ripple USD (RLUSD) stablecoin, which will be pegged to the value of the US dollar, with the NYDFS reportedly set to approve the token. Commenting on the impending launch, Schwartz noted that he is still hopeful that the move could happen by the end of the year.

To The Block , Ripple’s CTO stated: “I’m still hopeful that we will launch by the end of the year.” According to the publication, Schwartz highlighted that the December holidays could disrupt the launch.

“The annoying part for us is that we’re getting close to the holidays and we have partners who want to hit the ground running,” he explained. “I’m very hopeful that will happen this year, but unfortunately, when you start running towards Christmas and New Year’s, people leave.”

Also on the occasion, Ripple's CTO emphasized the importance of ensuring that the company's partners can launch in a “coordinated manner” and “not have problems”.

“There are a lot of moving parts involved and the big one is that the stablecoin is launched through a New York state fund and it’s regulated by the New York State Department of Financial Services and they’re the gold standard regulator for a stablecoin… they’re reviewing all of our processes, compliance and all of those things,” he said. “We’re very eager to put the headaches of launch behind us, but we’ll get there.”

Ripple USD (RLUSD) offers robust solutions for a variety of financial operators. For remittance and money transfer providers, RLUSD ensures instant and seamless cross-border settlement with flexible on/off options for stablecoins, fiat currencies, and cryptocurrencies. For centralized exchanges, it represents an opportunity to expand trading volume by partnering with a stablecoin that stands out for its reliability and transparency.