Ripple USD (RLUSD) has secured early customer commitments before its launch, as revealed by Ripple President Monica Long.
Stablecoins are predicted to become a massive trend in the payments industry, with a projected market cap of over $3 trillion in the coming years.
Major payment players like Stripe are showing interest in adopting stablecoins for transactions, indicating market expansion rather than direct competition.
The launch of RLUSD is pending regulatory approval, with Ripple awaiting a trust application review by the New York Department of Financial Services.