Cardano Founder Commends Ripple as RLUSD Goes Live

Highlights

Charles Hoskinson has hailed the launch of RLUSD and Ripple
There are speculations on possible RLUSD launch on Cardano
This projection is possible amid improving relationships between Cardano and XRP communities

Cardano Founder Charles Hoskinson has broken the silence on the newly launched RLUSD stablecoin from blockchain payments firm Ripple Labs Inc. Responding directly to the post update from Ripple Labs’ official X account, Charles Hoskinson typed, “Well done, Ripple!”

Charles Hoskinson Welcomes Competition

The broader crypto industry has about 195 stablecoins backed by the US Dollar or any other reserve. Tether (USDT) and Circle (USDC) control over 85% of the total stablecoin market cap, valued at over $212 billion. Despite this duopoly scare, firms like Ripple Labs have continued to push to break USDT and RLUSD dominance.

The recognition of the RLUSD launch on mainnet by the Cardano Founder is his way of backing the growth of competition in the industry. While it remains unclear how fast RLUSD will start competing with its top rivals, the broad industry support places it up for a good start.

Well done, Ripple! https://t.co/K3KHh27aHC

— Charles Hoskinson (@IOHK_Charles) December 17, 2024

Meanwhile, the newly launched RLUSD went live on a number of global exchanges including Uphold, Bitso, MoonPay, Archax, and CoinMENA. Per data from XPMarket, the RLUSD stablecoin started trading at $1.11, losing its peg to the US Dollar. However, as of writing, the stablecoin’s price has settled at the $1 mark.

Ripple Labs launched the stablecoin with a fully diluted volume of $13.3 million with a $1.3 million market cap. Per the blockchain payments firm, the token’s supply will increase over time as the market volatility stabilizes. As of writing, the XPMarket data shows there are 1,000 holders of the stablecoin.

Will RLUSD Launch on the Cardano Network

For months, Ripple Labs conducted beta testing for the RLUSD stablecoin on both the XRP Ledger (XRPL) and the Ethereum network. While it remains unclear the timeline to extend the token beyond these two networks, there are indications that an expansion to Cardano is possible.

Despite the earlier strained relationship between the Cardano founder and the XRP community in the past, Charles Hoskinson’s relationship with the ecosystem is improving. As reported earlier by Coingape, Hoskinson and Ripple CTO David Schwartz discussed Midnight Network and XRP in November.

While it remains unclear what this might mean for the future of both chains, it signals potential readiness to work together.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.