Potential Backing from Hoskinson and Cardano
Charles Hoskinson, the creator of Cardano, recently shared his enthusiasm for the upcoming RLUSD stablecoin from Ripple, sparking rumors about a potential integration of RLUSD into the Cardano ecosystem.
Hoskinson’s social media post in response to the news of RLUSD’s delayed launch suggests that Cardano may be considering supporting RLUSD, a move that could have significant implications for its network.
At present, Cardano’s blockchain only supports around $24 million in stablecoins. However, the incorporation of RLUSD could greatly increase its stablecoin volume and foster wider adoption.
By moving towards further expansion in Decentralized Finance (DeFi), incorporating RLUSD could potentially enhance Cardano’s position in the stablecoin market, enabling it to better compete with established players such as Tether and USD Coin.