Ripple’s senior executive officer, Reece Merrick, makes a daring claim about #Ripple USD (RLUSD) stablecoin, emphasizing that it clears $10 billion in transaction volume daily.
Merrick, the Managing Director for the Middle East & Africa at Ripple, made the bold claim during an exclusive interview with Finance World Magazine at the Dubai Fintech Summit. In the interview, Merrick discussed how blockchain, particularly stablecoin, could revolutionize cross‑border payments.
According to Merrick, roughly 50% of the world’s cross-border settlements are settled in U.S. dollars (USD) despite most of these transactions occurring outside the United States.
Notably, he stated that stablecoins are becoming an integral part of the evolving cross-border payment sector. He indicated that stablecoins, particularly those pegged to USD, were created to eliminate some inefficiencies associated with the traditional payment system, paving the way for instant and low-cost settlements.
RLUSD Sees $10B in Daily Volume
Notably, Ripple launched its dollar-pegged stablecoin last year, enabling users to transfer value instantly without relying on intermediaries. According to Merrick, RLUSD has recorded widespread adoption within seven months of its launch, with its market cap soaring to roughly $300 million.
Interestingly, he claims RLUSD boasts a daily transaction volume of $10 billion. This implies that RLUSD clears approximately $10 billion in transaction volume daily.
