Experts reveal the real reason why Ripple launched a stablecoin in the United States

Fred Rispoli, a professional translator and pro-XRP attorney, recently attempted to explain why Ripple plans to launch a dollar-backed stablecoin in the United States later this year.
In a thread today, attorney Rispoli said the main reason Ripple plans to launch a stablecoin is to allow U.S. customers to use its ODL solution (now Ripple Payments) for cross-border payments.
Rispoli’s comments suggest that U.S. customers could choose Ripple’s upcoming stablecoin instead of XRP when transacting with ODL.
Ripple is in the best position during the relief phase of the SEC lawsuit
The expert made this claim while analyzing Ripple’s latest SEC litigation filing. Crypto Basic reported earlier that Ripple filed its highly anticipated opposition brief to the SEC’s opening relief brief, in which the Commission requested nearly $2 billion in fines and penalties.
In its latest filing, Ripple argued that the SEC did not show why sanctions or disgorgement were necessary, adding that the court should only impose a civil penalty of no more than $10 million.
Reacting, attorney Rispoli noted that Ripple is in the best position with regard to relief in the lawsuit. However, he acknowledged that there are some ominous signs that could pose a challenge to Ripple’s potential victory.
Ripple’s stablecoin will be available to U.S. ODL customers
According to the lawyers, Ripple changed its operations in response to the court ruling and conducted much of its ODL operations overseas, notably receiving preliminary approval from Singapore last year.
In order to offer ODL to U.S. customers, attorney Rispoli pointed to Ripple’s decision to offer a stablecoin that would allow users in the region to use it instead of XRP when making payments.
It is worth mentioning that most ODL-related transactions utilize XRP as a bridge between two fiat currencies for instant cross-border settlement. As Cointelegraph reported earlier this year, 501T of RippleNet transaction volume utilized ODL via XRP as a bridge asset.
For the uninitiated, on April 4, Ripple announced plans to enter the $150 billion stablecoin market later this year with the launch of its own stablecoin. The upcoming stablecoin will be integrated into Ripple’s payments platform, enabling the company to serve institutional investors and the broader decentralized finance (DeFi) industry.
The stablecoin will initially be launched on XRP Ledger and Ethereum. However, Ripple plans to support other blockchains in future upgrades. As Ripple plans to integrate the stablecoin into its payment platform, ODL customers in the United States will also be able to utilize it for payments.
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