The new venture could involve XRP and potentially push the altcoin towards $1.

Former PayPal Digital Currencies CFO Neil DeSilva and Ripple are discussing a partnership to create a sustainable blockchain business, a move that could benefit XRP.

According to an X post by Ripple, DeSilva and Ripple CFO Jon Bilich discussed minimizing risks in digital asset exposure while building their sustainable blockchain business at the Ripple Swell Conference in Miami. They also covered the future of tokenization and stablecoins.

This news comes after Ripple announced that it will launch a U.S. dollar-backed stablecoin, RLUSD, to compete in the $172 billion stablecoin market, currently led by Tether’s USDT.

In an October 17 X post, Ripple CEO Brad Garlinghouse said that RLUSD has been in development for a year and will become “the gold standard for enterprise-grade stablecoins—built on trust, liquidity, and compliance.”

Kicking off Ripple Swell with a bang! RLUSD has been nearly a year in the making, and with our trusted exchange partners, market makers, and advisory board, RLUSD is set to become the gold standard for enterprise-grade stablecoins—built on trust, liquidity, and compliance.

https://t.co/fLPglsjkfI

Ripple’s exchange partners, market makers, and an advisory board are overseeing the creation of RLUSD. BitStamp, Uphold, Bullish, Bitso, Moonpay, CoinMENA, and Independent Reserve are among the exchange partners.

XRP is currently showing bullish signs.

Several Ripple projects could benefit XRP, the seventh-largest cryptocurrency by market capitalization.

With a 3.58% increase in the last 24 hours, XRP is currently trading at $0.5605. According to CoinMarketCap data, the altcoin has a market value of $31.75 billion.

The Relative Strength Index (RSI) indicates that the bulls are generally in charge of the digital asset’s price action, and the gradient of the line suggests that higher prices are possible soon.

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