Ethereum

Stablecoin

USDC

Standard

<ul>
  
 <li>Ripple eyes Japan for RLUSD launch amid US regulatory delays, seeking clearer legal pathways.</li>   
 <li>Ripple to challenge USDT, USDC in $170B stablecoin market with upcoming RLUSD on XRP and Ethereum.</li>   
 <li>Japan's favorable crypto laws attract Ripple for strategic RLUSD debut, bypassing US regulatory hurdles.</li> 
</ul>   
<p>Ripple, a leading player in the cryptocurrency market, is straddled by regulatory hurdles in the US that have continued to put off the launch of its new <a href="https://cryptonewsland.com/ripple-issues-first-rlusd-during-beta/" target="_blank" rel="noreferrer noopener sponsored nofollow">Ripple-USD (RLUSD)</a> stablecoin. Having announced its intentions in April, it said that since then, the tightness of regulatory approvals still pending in the US has been mentioned as the cause of several delays in the launch.</p>   
<p>The slow pace of the issue is markedly demonstrated by the company's CEO, <a href="https://cryptonewsland.com/brad-garlinghouse-sees-potential-in-rlusd-but-doubts-us-regulations/" target="_blank" rel="noreferrer noopener sponsored nofollow">Brad Garlinghouse,</a> who has repeatedly quoted the inefficiencies created by the lack of clear regulatory space. The company has tried to work within the regulations, even acquiring Standard Custody to help it increase its regulatory position; however, key approvals from stakeholders like the New York Department of Financial Services (NYDFS) have not been granted.</p>   
<h2 class="wp-block-heading" id="h-strategic-pivot-to-japan">Strategic Pivot to Japan</h2>   
<p>Reacting to the regulatory mess in the US, Ripple has been looking to Japan as a country with more transparent and constructive cryptocurrency-related laws. Of late, the FSA of Japan has also come up with conducive laws for stablecoins, hence becoming a potential and attractive option for Ripple's expansion policies.</p>   
<p>While on a recent visit to Tokyo, Garlinghouse met with top Japanese official Tairamasaaki and came away encouraged and optimistic that Ripple could leverage regulatory innovation in Japan to launch RLUSD. These discussions highlight Japan's commitment to fostering innovation in blockchain and crypto technologies while ensuring consumer protection.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/bgarlinghouse/status/1831979906970091788 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-japan-as-one-of-the-ripple-center-points">Japan as One of the Ripple Center Points</h2>   
<p>Therefore, the strategic pivot to Japan goes well with its need for a more welcoming regulatory environment, but it also places the company on tap for potential realization in the Asian market. Japan's proactive attitude in setting crypto regulations could now hold the key for Ripple to launch RLUSD on a rapid path and maybe even ahead of the original schedule in the US. This move would further solidify Ripple's position in Asia, soon to become the hotbed of cryptocurrency innovation and adoption.</p>   
<h2 class="wp-block-heading" id="h-implications-for-the-global-stablecoin-market">Implications for the Global Stablecoin Market</h2>   
<p>RLUSD in the stablecoin space is set to compete directly with USDT from Tether and USDC from Circle. By transacting on the XRP ledger and Ethereum blockchain, Ripple wants to leverage its existing technological infrastructure to enter the $170 billion USD-pegged <a href="https://cryptonewsland.com/ripples-new-rlusd-stablecoin-raises-questions/" target="_blank" rel="noreferrer noopener sponsored nofollow">stablecoin sector</a>. It has been said that this opportunity for quick entry into what is poised to be a huge market is strategic for Ripple.</p> 
<p>The post <a href="https://cryptonewsland.com/ripple-eyes-japan-for-rlusd-launch-amid-us-regulatory-challenges/">Ripple Eyes Japan for RLUSD Launch Amid US Regulatory Challenges</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Ripple Eyes Japan for RLUSD Launch Amid US Regulatory Challenges

Table of Contents

Crypto News Land

Other articles published on Sep 8, 2024

Yen stablecoins are coming for the crypto market

Harga PEPE Terguling, Waspada US$0,00000586

Could This Be the Moment Bitcoin Investors Have Been Waiting For?

DOGE Prediction for September 8

Solana Analysts Predict Future Growth Despite Recent Declines

Cardano Founder Reveals Game-Changing Plan for Unmatched Scalability

Join our free newsletter for daily crypto updates!