Long-standing Cardano proponent Dan Gambardello has fueled speculation about an upcoming major stablecoin announcement for the blockchain.
In an X post yesterday, Gambardello referenced unconfirmed reports suggesting that a major stablecoin might soon launch on Cardano. His optimism also stems from the growing institutional involvement within the Cardano ecosystem, which he believes signals increased adoption among large players.
Gambardello further highlighted Cardano’s status as a blue-chip crypto project, citing its strong decentralization and security as key factors that make the network well-positioned for a significant stablecoin rollout.
He expressed confidence about the potential launch of a major stablecoin, noting that “it’s just [a matter of] time” before one will eventually roll out.
Notably, stablecoins are crucial in the cryptocurrency market, as they facilitate trading, lending, and payments while serving as a hedge against market volatility.
Community Reactions and Ongoing Speculation
Gambardello’s remarks sparked mixed reactions within the Cardano community. While some users are enthusiastic about the potential launch of a Tier-1 stablecoin, others remain skeptical and cautious about unverified claims.
Over recent months, community members have speculated that Cardano developers may be working behind the scenes to bring a Tier-1 stablecoin, such as USDC or USDT, to the network. Supporters believe such a development could significantly boost Cardano’s DeFi activity and attract a broader user base.
Despite growing anticipation, no major stablecoin has officially launched on Cardano to date.
Hoskinson Pushes for RLUSD Launch on Cardano
Meanwhile, Cardano founder Charles Hoskinson has publicly revealed plans to integrate Ripple’s stablecoin, Ripple USD (RLUSD), on the network.
In May, he disclosed holding multiple meetings with Ripple executives, including CEO Brad Garlinghouse and outgoing CTO David Schwartz, to advance this goal. Although Hoskinson remains confident about RLUSD’s eventual launch on Cardano, an official timeline for its debut has not been announced yet.
While the Cardano network has yet to attract any Tier-1 stablecoins, it currently hosts several smaller native stablecoin projects. Cardano’s total stablecoin market cap stands at roughly $38.55 million. Moneta (USDM) ranks as the largest, boasting a valuation of $12.97 million.
Djed (DJED), the stablecoin launched by Cardano’s development arm Input Output in 2023, has seen limited growth, with a current market capitalization of just $4.74 million.
Meanwhile, for now, the wait continues for a major stablecoin like USDT or USDC to launch on the network.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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