RLUSD helps former Ripple employee's new XRPL startup

Former Ripple employee builds XRP Ledger start-up project, RLUSD will serve as core financial channel

Starting from August 8, a series of publicly released information shows that an unnamed XRP Ledger start-up project being developed by former Ripple employee Bias Goose will use RLUSD as the main financial channel.

Core Points

According to former Ripple employee Bias Goose, RLUSD will provide the foundation for this as-yet-named XRP Ledger start-up project. Bias Goose said the project will avoid issuing its own tokens and will not use artificial incentives. He first revealed the XRP Ledger start-up on August 8, with a target time of approximately September. Ripple reported on August 6 that RLUSD's liquidity was close to US$1.6 billion, supported by larger reserve assets. The project claims to provide returns above U.S. Treasury yields, but these claims have not been verified until economic details and partner information are released.

Project details are still blurred

Bias Goose said in its latest post on August 16,"We will make RLUSD great again," but did not disclose the project name, partners or detailed product structure. Bias Goose was previously responsible for developer growth at Ripple and currently works in marketing at Walrus Protocol. The publicly disclosed information is still more limited than some descriptions of the project. Bias Goose has said the start-up involves companies in an industry that has historically resisted blockchain and intends to generate "real benefits" without its own tokens or artificial incentives. Because the underlying business and revenue models have not yet been disclosed, these economic claims cannot be independently verified.

RLUSD has been confirmed, but the start-up project has not yet been named.

Bias Goose first said on August 8 that XRP Ledger will welcome a new start-up project in about a month. This roughly points to September rather than the exact release date. The announcement did not include a specific date. Two days later, he revealed that the team had established a partnership with a "fairly closed industry" and planned to bring industry participants onto the chain. He also said that the model will use the RLUSD channel, which will subsequently involve XRP, and "have no incentives, no tokens." These are still just statements from the project creator, not independently confirmed partner announcements.

The earnings statement remains the biggest doubt

The core of its business promotion is the returns generated by real-world activities, not token issuance. There are reports that the project's expected returns are higher than U.S. Treasury yields, but no underlying assets, borrowers, contractual cash flows or audited performance data have been disclosed. Therefore, these return claims should be regarded as forward-looking and unproven. RLUSD itself does not automatically generate these returns. Ripple describes the stablecoin as a dollar-backed asset designed for payments, settlements, money management and on-chain finance. Any benefits provided through this start-up need to be derived from other assets, strategies or business activities built around RLUSD.

RLUSD already has a growing institutional adoption base.

Ripple's latest transparency report shows that as of August 6, RLUSD's liquidity was US$1,589.6 million and reserve funds were US$1,702.6 million. The issuer, Standard Custody & Trust Company, is regulated by the New York Department of Financial Services, and Ripple publishes monthly third-party assurance reports covering supply and reserves. RLUSD is also expanding in international markets. Ripple and SBI launched the stablecoin in Japan in June after receiving regulatory approval. RLUSD trading had driven more than $2.5 billion in trading volume through XRP Ledger trading pairs at the end of June, providing the new XRPL app with a deeper foundation of dollar liquidity than when RLUSD was launched.

Future Outlook

The next verifiable milestone is a more comprehensive disclosure of the project. The timeline mentioned by Bias Goose on August 8 roughly points to early September, but an exact release date has not yet been announced. Claims about counterparties, expected returns, legal structure or possible Walrus integration were not confirmed until the project or its partners released supporting details. No project tokens have been announced yet. Bias Goose has made it clear that the model will be "without incentives, without tokens" and run entirely on the RLUSD channel. If this structure remains unchanged, the main question will be: How does RLUSD enter the system? What activities will produce the proposed return? How to manage risks? And can XRP play other roles in addition to being a native asset of XRP Ledger?