Ripple CEO Says Stablecoins on the Verge of a Trillion-Dollar Boom
2025-07-10 12:19:52
Main Idea
Ripple CEO Brad Garlinghouse highlights the rapid growth of the cryptocurrency market and announces BNY Mellon's partnership to back Ripple's RLUSD stablecoin, while J.P. Morgan remains skeptical about the stablecoin sector's growth projections.
Key Points
1. Ripple CEO Brad Garlinghouse notes the cryptocurrency market capitalization has grown from around $260 billion to $1 trillion-$2 trillion, calling the growth rate 'profound'.
2. BNY Mellon will handle the USD cash and Treasury bills backing Ripple's RLUSD stablecoin, ensuring liquidity and reserve management.
3. RLUSD, launched in December 2024, is designed to comply with the upcoming GENIUS Act, which sets federal standards for stablecoin reserves.
4. Standard Chartered predicts the stablecoin sector could reach $2 trillion by 2028, while Bernstein forecasts $4 trillion in ten years.
5. J.P. Morgan remains cautious, estimating stablecoin growth to only $500 billion by 2028.
Description
The stablecoin market could potentially balloon nearly tenfold within a few years, according to Ripple CEO Brad Garlinghouse. Appearing on CNBC’s “Squawk Box” on Wednesday, Garlinghouse highlighted the sector’s momentum and said that many expect stablecoins to reach a combined market capitalization of $1 trillion to $2 trillion, up from around $260 billion today. The exec added that the current growth rate is “profound,” while explaining that Ripple’s late entry into the stablecoin sector was a ...
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