Charles Hoskinson, the founder of Cardano, has shared that his team is in discussions with Ripple, a notable enterprise blockchain company, concerning the potential integration of Ripple USD (RLUSD), a newly launched stablecoin. “We are actively talking,” Hoskinson confirmed in a recent post.
The news of these discussions surfaces against the backdrop of ongoing social media debates surrounding Cardano’s perceived failure to incorporate popular stablecoins such as USDC. The Switzerland-based Cardano Foundation had been presented with an opportunity to integrate USDC in 2021, however, a deal with Circle, the issuer of the stablecoin, failed to materialize, according to Hoskinson.
Hoskinson was also quick to dismiss the idea of IOG, the company behind Cardano, funding such ecosystem initiatives, firmly stating that the company’s private profits do not constitute “the people’s money.”
RLUSD, the stablecoin in question, has swiftly gained popularity since its launch last month, securing listings on prominent exchanges such as Bitstamp and Bullish. Monica Long, President of Ripple, recently indicated that additional exchange listings are expected to be announced soon.
Hoskinson has often spoken highly of the RLUSD team, describing them as “smart professionals.” Nevertheless, it remains unclear whether a pathway exists for the integration of this stablecoin into the Cardano blockchain. Currently, RLUSD is available on Ethereum and XRP Ledger. However, Ripple has previously indicated that the stablecoin will be supported by more blockchains in the future.
Hoskinson has stated, “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.”
The potential integration of RLUSD into Cardano’s blockchain could be a significant development for the platform, helping to address the stablecoin integration concerns raised by its community. However, as with all potential developments, a degree of uncertainty remains, and it will be up to Hoskinson and his team to navigate the challenges and opportunities presented by this potential integration.
