Prominent digital asset researcher Anderson has made bold claims suggesting that Ripple is preparing to launch a stablecoin specifically designed for its U.S.-based On-Demand Liquidity (ODL) customers.
Ripple’s strategic move to introduce a stablecoin for U.S. ODL transactions demonstrates its efforts to maintain its position in the U.S. market, despite facing regulatory scrutiny.
Anderson, a renowned digital asset researcher, has presented assertive claims regarding Ripple’s upcoming stablecoin, proposing a connection with On-Demand Liquidity (ODL).
In a recent post on X, Anderson suggested that Ripple plans to introduce its stablecoin specifically for U.S.-based ODL customers, rebranded as Ripple Payment, amidst its ongoing legal battle with the Securities and Exchange Commission (SEC). Crypto News Flash has reported that Ripple has already expressed its intentions to enter the $150 billion stablecoin market, recognizing a significant opportunity over the next decade.
Anderson speculated that Ripple may be unveiling the stablecoin to support automated market maker (AMM) and institutional decentralized finance (DeFi) activities, as well as to streamline ODL transactions within the United States.
Anderson’s comments imply that Ripple’s decision to launch a stablecoin aligns with its strategy to navigate regulatory challenges in the United States. Currently embroiled in a legal dispute with the SEC, Ripple is accused of offering XRP as an unregistered security to both retail and institutional investors in the U.S.
While a New York federal court ruled that Ripple’s XRP sales to retail customers did not constitute investment contracts, it concluded that the company violated securities regulations by selling XRP to institutional clients.
The prolonged legal battle has impacted Ripple’s operations within the U.S., leading the company to shift its focus to international clients. Ripple’s CEO, Brad Garlinghouse, revealed that approximately 95% of its clientele are located outside the U.S.
Furthermore, Ripple’s president, Monica Long, testified that after the SEC’s charges in December 2020, the company’s Singapore subsidiary took the lead in establishing new XRP sales contracts with clients utilizing the On-Demand Liquidity (ODL) service.
In the face of the SEC’s scrutiny on Ripple’s institutional XRP sales, the company is actively seeking ways to maintain its ODL services for U.S. clients within regulatory boundaries. This development has sparked discussions among prominent figures in the crypto space, such as Anderson, who speculate that Ripple intends to introduce its stablecoin to facilitate compliant ODL transactions in the U.S.
Additionally, crypto attorney Fred Rispoli echoed similar sentiments while examining Ripple’s recent legal filings. Rispoli highlighted indications suggesting that Ripple’s upcoming stablecoin could enable U.S. customers to engage in ODL transactions without relying on XRP.
In the meantime, Ripple plans to launch the stablecoin on both the XRP Ledger (XRPL) and Ethereum networks in the coming year. However, despite discussions among industry experts, the San Francisco-based company has yet to officially confirm these speculations.
