RLUSD Potentially Integrated on Cardano Network, ADA Coin Boss Says This!

Bittime - Cardano is exploring opportunities to integrate the RLUSD stablecoin into its ecosystem. Charles Hoskinson, the founder of Cardano, revealed that his team had already held discussions regarding this possibility. 

This integration, if realized, is predicted to be an important turning point for Cardano and its flagship coin, ADA.

Potential Integration of RLUSD with Cardano

Talk of this potential integration emerged after various discussions on social media about Cardano's obstacles in integrating well-known stablecoins such as Circle's USDC. 

In 2021, the Cardano Foundation seeks to integrate with USDC with an investment of $3 million (around IDR 48.6 billion). However, according to Hoskinson, this project failed to be implemented, and he criticized the Cardano Foundation for managing funds for these ecosystem projects.

Read also: Cardano (ADA) Collaborates with FC Barcelona, ​​This is the Goal!

Hoskinson stressed the importance of having a solid stablecoin ecosystem for Cardano, which includes USDM, Djed, and of course RLUSD. 

The RLUSD stablecoin itself was only launched last month and has already received great attention, as evidenced by trading listings on leading exchanges such as Bitstamp and Bullish.

Promising Breakthrough Cardano and RLUSD 

In several posts on Twitter, Hoskinson said that his party had held further discussions with the RLUSD team. 

"We have had conversations with the RLUSD team. We are in active discussions," Hoskinson wrote on January 13, 2025.

According to the latest report from CNF, Monica Long, President of Ripple, recently announced that RLUSD will soon be available on Coinbase. Long also added that several listings on other exchanges are in the process. 

Currently, RLUSD has a daily trading volume of $79.8 million (around IDR 1.29 trillion) with a market capitalization of $53 million (around IDR 860 billion). This stablecoin is pegged at $1 (around IDR 16,200) and is ranked 2983 on CoinMarketCap.

RLUSD recently recorded a new milestone by surpassing the trading volume of PayPal USD (PYUSD) and Euro Coin (EURC). 

With daily trading volume reaching $34.7 million (around IDR 561 billion), RLUSD is now beating PYUSD which only reached $19.7 million (around IDR 318 billion) and EURC which was $12.4 million (around IDR 200 billion). 

This achievement shows the wide adoption of RLUSD in the traditional banking and Decentralized Finance (DeFi) sectors.

Read also: Cardano (ADA) Price Prediction, Potential Pump Up To $7.8?

Why is the RLUSD Integration Potentially a Game-Changer for ADA?

Hoskinson has praised the RLUSD team several times, calling them “smart professionals.” The Cardano founder also highlighted the stability of Ripple which continues to fight against the US SEC (Securities and Exchange Commission) lawsuit. 

However, until now there is still no certainty whether RLUSD will soon be integrated into the Cardano blockchain, considering that currently this stablecoin is only available on Ethereum and the XRP Ledger (XRPL). However, Ripple has previously promised that more blockchains will support this product.

Hoskinson also confirmed that there might be a collaboration between Cardano and Ripple in the future. He is very optimistic that the RLUSD stablecoin can be a major driver for the growth of the Cardano ecosystem. 

Not only that, Ripple can also join the Midnight Cardano ecosystem, which is a sidechain with a focus on privacy, to support secure transactions and protect user data.

Impact of Integration for RLUSD on Cardano and ADA Coin

According to Hoskinson, integrating RLUSD into Cardano's Midnight Sidechain will help both networks in terms of scalability, cross-chain communication, as well as increasing adoption. 

This integration is expected to have a major impact on financial stability and increase Cardano's acceptance in the global market.

With the ease of transactions facilitated by RLUSD, ADA is predicted to be increasingly used in various transactions. This will certainly increase demand for ADA and have an impact on the price of this coin. 

FAQ

What is the difference between RLUSD and XRP? 

RLUSD and XRP are both important parts of the Ripple ecosystem, but serve different purposes:

• RLUSD: It is a stablecoin pegged to the value of the US Dollar and designed to provide stability and liquidity within the Ripple ecosystem. 

• XRP: XRP is the native digital asset of the Ripple network. 

What is ADA, and why is this coin gaining popularity in the crypto world? 

ADA is the native crypto asset of the Cardano blockchain. ADA is growing in popularity due to its focus on sustainability, scalability, and smart contract implementation. 

How will ADA impact the DeFi sector? 

ADA's scalability and sustainability features bring its own challenges for Ethereum in the Decentralized Finance (DeFi) sector. 

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Reference 

Crypto News Flash, Cardano Eyes RLUSD Integration: A Game-Changer for ADA, accessed January 14, 2025.

Watcher.Guru, Cardano & Ripple to Partner? ADA Eyes RLUSD Integration, accessed January 14, 2025.

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