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According to a recent statement by Brad Schwartz, Ripple’s Vice President of Product, the company does not expect its new stablecoin, RLUSD, to skyrocket to $1,200 in value. In an interview with U.Today, Schwartz emphasized that the price of the stablecoin will stabilize very quickly following its launch.
Schwartz stated that short-term changes in prices due to shortages of supply or demand are certainly possible, especially around the launch time. However, he stressed that these fluctuations should not remain for very long as arbitragers rapidly fix the market.
It is worth noting that RLUSD has recently received regulatory approval from the New York State Department of Financial Services (NYDFS). The stablecoin’s official launch is expected to occur in the near future following this significant regulatory boost.
Source: u.today
