Renowned researcher Anderson has made bold claims suggesting that Ripple is preparing to release a stablecoin specifically designed for U.S. On-Demand Liquidity (ODL) customers. This strategic move by Ripple to introduce a stablecoin for ODL transactions in the U.S. demonstrates its efforts to maintain its presence in the American market amidst regulatory scrutiny.
According to Anderson, Ripple is planning to launch its stablecoin, which will be renamed Ripple Payment, exclusively for U.S.-based ODL customers. This initiative comes as Ripple continues to face legal challenges from the Securities and Exchange Commission (SEC). Ripple has already expressed its intention to enter the $150 billion stablecoin market, recognizing the immense opportunity it presents over the next decade.
Anderson speculates that Ripple’s stablecoin could be used to support automated market maker (AMM) and institutional decentralized finance (DeFi) activities, as well as streamline ODL transactions within the United States.
The comments made by Anderson indicate that Ripple’s decision to launch a stablecoin aligns with its strategy to navigate regulatory challenges in the U.S. Currently embroiled in a legal dispute with the SEC, Ripple is accused of offering XRP as an unregistered security to both retail and institutional investors in the U.S. While a federal court in New York ruled that Ripple’s XRP sales to retail customers did not constitute investment contracts, it concluded that the company violated securities regulations by selling XRP to institutional clients.
As a result of the ongoing legal battle, Ripple has shifted its focus to international clients, with approximately 95% of its clientele located outside the U.S. Ripple’s subsidiary in Singapore has taken the lead in establishing new XRP sales contracts using the ODL service following the SEC’s charges in December 2020.
In an effort to uphold its ODL services for U.S. clients within regulatory boundaries, Ripple is actively exploring ways to introduce its stablecoin. This development has sparked discussions among influential figures in the crypto space, such as Anderson and crypto attorney Fred Rispoli, who believe that the stablecoin will enable compliant ODL transactions in the U.S. without relying on XRP.
Ripple plans to launch the stablecoin on both the XRP Ledger (XRPL) and Ethereum networks in the near future. However, it’s important to note that the company has yet to officially confirm these speculations, despite the discussions among industry experts.