Charles Hoskinson indirectly confirmed that Ripple’s $RLUSD stablecoin will be available on the Cardano blockchain network in the near future.
Cardano is a popular proof-of-stake (PoS) blockchain network. Many decentralized cryptocurrency (Defi) trading exchanges also run on this blockchain network, but in the absence of popular support for stablecoins in the Cardano ecosystem, cryptocurrency investors do not prefer to use Cardano-based Defi protocols.
On January 12, 2024, Cardano founder Charles Hoskinson responded to a tweet posted by TabTools, Cardano’s blockchain-focused Defi platform.
The TabTools team asked if Circle ($USDC) demands $3 million to mint the USDC stablecoin on the Cardano network. Hoskinson responded and said more than we thought.
The Cardano founder indirectly said that the high cost of donating in the form of security is the main reason why USDC is not available on the Cardano network.
In response to another tweet, an X user asked Hoskinson to consider adding support for Ripple’s recently launched $RLUSD stablecoin. Hoskinson indirectly said yes for $RLUSD.
Hoskinson said that Ripple’s leadership is much better and they are also cooperative enough, so it will be better to see $RLUSD on Cardano.
In early December 2024, the Cardano founder confirmed that he was working on bringing $RLUSD to the Cardano blockchain network.
On Reddit, some cryptocurrency enthusiasts are talking about the possibility of support for the $RLUSD stablecoin on the Cardano blockchain network.
$ADA price action
The current trading price of $Ada coin, the native token of the Cardano blockchain network, is $0.94 and this price level is down 6% in the last 24 hours.
Also Read: Cardano Founder Praises Sui Network ($SUI), Says $SUI Deserves Success
