Cardano founder Charles Hoskinson confirmed today that the blockchain is considering integrating Ripple’s new stablecoin RLUSD.
Since its launch in December, RLUSD has attracted significant interest in its bid to become a leading stablecoin. Integrating with a DeFi ecosystem like Cardano can boost its usage and reputation.
Cardano Is In Discussions With Ripple
Charles Hoskinson, founder of Cardano, revealed discussions with Ripple in a conversation active on social networks. RLUSD received approval from the US regulator less than a month ago, but it has quickly made a big mark in the cryptocurrency sector.
RLUSD integrated Chainlink Standard last week, and is currently building new partnerships:
“If there is a reasonable path to integrating RLUSD, I will try to do it as a gift to the ecosystem. Cardano needs a solid stablecoin ecosystem from USDM and Djed to RLUSD. We had a call with the people from RLUSD. We are actively discussing,” Hoskinson said.
Ripple has garnered sympathy in several sectors of the crypto industry, and the relationship with Cardano could be a continuation of that.
The company received support from global exchanges for RLUSD ahead of its launch, and the new stablecoin was used in a prominent charitable cause two days ago. Hoskinson was praise company, saying they “have a true community, leadership and purpose.”
Cardano’s ADA token has experienced a turbulent price trajectory recently. A week ago, it was heading towards a two-year high, but rapid bearish activity turned the price resistance into a sharp decline.
Ripple, on the other hand, can also benefit from the integration of RLUSD with Cardano. The company has a bold vision to challenge the leading stablecoins with RLUSD, and this will require widespread adoption. Ripple has been working to build adoption on exchanges, but the leading DeFi blockchain ecosystem will open up many new opportunities.
In short, both sides have strong incentives to bring these discussions to fruition, but nothing concrete has yet been determined. However, perhaps Hoskinson would not have disclosed these negotiations if he thought they were going nowhere.
However, the final agreement between Ripple and Cardano may include other conditions, which cannot be predicted at this time.
