Ripple's RLUSD stablecoin, not XRP, is drawing the spotlight as Thinking Crypto host Tony Edward points to a possible $13 trillion opportunity ahead of the U.S. Senate's Sept. 15 CLARITY Act vote. Edward cited Ripple stablecoin chief Jack McDonald's estimate of the corporate treasury market RLUSD could tap, while other industry voices weighed in on the bill's odds.
XRP is taking a back seat to RLUSD as Ripple's stablecoin aims to capture a large market of corporate treasuries. Speaking about progress on the XRP Ledger and the upcoming CLARITY Act vote, Edward pointed to a massive opportunity for the crypto market.
RLUSD Chief Sees $13 Trillion Opportunity
In a YouTube video, Edward said Ripple's stablecoin chief Jack McDonald believes there is $13 trillion in corporate treasury business available to RLUSD. He added that payments and capital markets activity were fueling stablecoin growth. According to Edward: "Jack is eyeing a customer base that handles roughly $13 trillion in transactions annually".
The comments follow Ripple's continued expansion of RLUSD, with Edward highlighting the payments firms and banks the company works with, plus Ripple's acquisition of GTreasury. He also linked the ongoing development of the XRP Ledger to RLUSD's growth, noting that Clearpool Finance has proposed migrating to the XRP Ledger under new lending standards for XRPL institutional credit products.
CLARITY Act Vote Set for September 15
The RLUSD focus comes as the industry braces for the Senate's vote on the CLARITY Act on Sept. 15. Edward said talks were underway and intensifying ahead of the vote. White House crypto director Patrick Whitt posted on X suggesting it was a bad day for CLARITY Act skeptics.
Billionaire investor Mike Novogratz also weighed in, saying the CLARITY Act push is not dead and that talks were continuing over the weekend. Edward added that ethics concerns remain a major issue, and that the White House has the opportunity to write a new ethics agreement before the vote.
Coinbase CEO Brian Armstrong is also bullish on the outlook, recently describing the CLARITY Act as nearly finished. Edward said the bill's passage could improve market sentiment and may lead to a rally in Bitcoin, though he still described himself as bullish on XRP even as its ledger expansion continues alongside RLUSD's growth.
Source: CoinGape
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