According to a publication from X, Versan Aljarrah predicts radical changes in the stablecoin landscape following the newly enacted GENIUS Act. Initially, Aljarrah believes that the regulation of stablecoins presents an opportunity for the US Treasury to adopt Ripple's stablecoin, RLUSD, as the primary tool to promote a digital dollar, thereby consolidating the dollar as the global reserve currency.
The co-founder of Black Swan Capitalist highlights RLUSD's regulatory compliance with the GENIUS Act. He points out that the Ripple stablecoin fully complies with the regulations and is entirely backed by the US dollar, US Treasury bills, and other cash equivalents.
In addition to its compliance with the GENIUS Act, Aljarrah asserts that the XRP Ledger will also play a key role in RLUSD's future dominance in the market. He argues that the liquidity layer of the XRP Ledger provides a neutral and trustless settlement layer necessary for global trade.
"By tokenizing US debt and integrating it with the liquidity layer of XRP, RLUSD can facilitate real-time cross-border settlements," Aljarrah stated. "This is how value moves globally in a post-SWIFT world."
Following the passage of the GENIUS Act by the United States House of Representatives, President Trump signed the bill into law, introducing robust regulation of stablecoins in the United States.
Aljarrah predicts that Tether's dominance in the stablecoin landscape will decrease in the coming months. The co-founder argues that the GENIUS Act will increase audits and regulatory pressure on unregulated stablecoin issuers.
Furthermore, the co-founder of Black Swan Capitalist points to XRP's potential to host a gold-backed stablecoin. He notes that the next step following the approval of the GENIUS Act will be the launch of a gold-backed Treasury token in an attempt to "redefine trust in digital assets." XRP has reached an all-time high and is currently trading at $3.42 as Ripple continues to mint new RLUSD tokens.
