Cardano founder Charles Hoskinson confirmed today that the blockchain is considering integrating RLUSD, Ripple’s new stablecoin.
Since its launch in December, RLUSD has gained considerable publicity for its efforts to become a leading stablecoin. Integration with a DeFi ecosystem like Cardano could supercharge its usage and notoriety.
Cardano In Talks With Ripple
Charles Hoskinson, founder of Cardano, revealed these talks with Ripple in a heated social media discussion. RLUSD received US regulatory approval less than a month ago, but it’s already making a big splash in the crypto space.
It integrated Chainlink Standard last week, and now it’s building a new partnership:
“If there is a reasonable path to integrating RLUSD, I’ll try to cover it as a gift to the ecosystem. Cardano needs a solid stablecoin ecosystem from USDM and Djed to RLUSD. We’ve already had a call with the RLUSD people. We are actively talking,” Hoskinson claimed.
Ripple has been gathering goodwill in several sectors of the crypto industry, and this Cardano relationship might be another fruit of it.
The company gained global exchange support for RLUSD before launch, and this new stablecoin was used in a high-profile charity action two days ago. Hoskinson praised the firm, saying it “has a real community, leadership, and purpose.”
Cardano’s ADA token has been on a chaotic price trajectory as of late. One week ago, it was cruising towards a two-year high, but bearish activity quickly turned price resistance into a sharp drop.
Long-term holders are still trying to keep the price strong, but this Ripple deal could generate a lot of good publicity for Cardano.
Ripple, however, also stands to gain a lot from integrating RLUSD with Cardano. The company has a bold vision to challenge the leading stablecoins with RLUSD, and this will require widespread adoption. Ripple is already working to build acceptance among exchanges, but the leading DeFi blockchain ecosystem would open many new opportunities.
In short, both parties have a strong motivation to make these talks succeed, but nothing concrete has been determined. To be fair, Hoskinson probably wouldn’t reveal these negotiations if he thought they were going poorly.
However, the final agreement between Ripple and Cardano might involve other stipulations, which are currently unpredictable.
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