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Stablecoin Market To Grow Dramatically in 2025: Ripple CEO

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Bloomberg Mar 20 15:02 · 8984 Views

Ripple CEO Brad Garlinghouse expects RLUSD to be one of the top 5 stablecoins by year end and expects the stablecoin market to grow dramatically. He speaks with Sonali Basak on "Bloomberg Markets."

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Transcript

  • 00:00 If you think about the next forefront of stable coins now that the US is getting toward
  • 00:06 clarity,
  • 00:07 what's possible?
  • 00:09 Well, I, I again, I think we're underestimating how big that might get.
  • 00:12 You know, today that markets about $230 billion.
  • 00:15 I think some smart people think that may go up 10X in the next 5 years.
  • 00:18 I think that's probably right.
  • 00:20 I mean, the two leading players and Tether
  • 00:22 as well as USD see are both I think poised to do well in that market.
  • 00:27 Ripple launched our own stable coin
  • 00:29 at the end of last year.
  • 00:31 That's already ahead of our own internal forecasts
  • 00:33 in terms of where we are at this point in the year.
  • 00:35 It's still we're small, but the goal is by the end of the year for RL USD, Ripple stable coin to be one of the top five in the market by the end of the year.
  • 00:42 And I think the whole market's going to grow dramatically of this year.
  • 00:44 So what does it take you to get there?
  • 00:46 Who are you pairing up with?
  • 00:48 Are you creating some financial partnerships in order to make RL USD more of a
  • 00:54 household name?
  • 00:55 Yeah, for sure.
  • 00:56 I mean, even today we had more listings go live for RL USD on some global crypto exchanges.
  • 01:01 You know anytime you do something new, it takes a minute for that kind of
  • 01:04 if the pun of the ripple effect of seeing how that plays out.
  • 01:08 And so we're seeing that happen in real time.
  • 01:10 So
  • 01:10 I'm really pleased.
  • 01:11 Again, as I said, we're ahead of our Q1 forecast of where we expect it to be.
  • 01:15 So we feel really good about that progress.