Brad Garlinghouse, the CEO of Ripple, predicted that the stablecoin market is poised for growth of up to ten times in the coming years, surpassing a value of $1 trillion, compared to about $260 billion currently.
He explained in an interview with CNBC that Ripple entered this sector driven by the use of stablecoins in institutional payments before launching its stablecoin RLUSD, backed by the dollar.
BNY Mellon bank supports the cryptocurrency RLUSD:
In a notable move, Ripple announced that the New York Bank 'BNY Mellon' will manage the liquidity and reserves supporting the RLUSD currency, providing a prestigious banking cover for the currency.
The bank ensures the possibility of redeeming the currency at a 1:1 ratio with the dollar, in line with money market fund standards.
This partnership is part of a gradual expansion by the bank in the digital assets space since 2021, and Ripple launched its stablecoin on the Ethereum and XRP Ledger networks in December 2024.
This indicates that forecasts from major institutions like 'Standard Chartered' suggest that the stablecoin market will reach $2 trillion by 2028, while 'Bernstein' believes it could reach $4 trillion within ten years.
In contrast, JPMorgan expresses caution, expecting limited growth of only $500 billion by 2028, considering that significant expansion is still premature due to weak actual usage.
