A private startup based on the XRP Ledger (XRPL) that a former Ripple engineer is preparing is expected to put Ripple’s dollar-pegged stablecoin RLUSD at its core.

U.Today, a blockchain outlet, reported on Aug. 16 that a former Ripple engineer known online as Bias Goose, now in developer marketing at Walrus Protocol, recently wrote on social media, "We will make RLUSD great again," making clear the project’s central pillar.

Not much has been disclosed about the project. It has no official name, no white paper has been released, and no verifiable registered legal entity has yet emerged. He has only signalled that he will disclose all project details around the first half of September.

The startup is seeking ways to move real-world business on-chain by working with what is described as a closed-off traditional economy sector. Its technical structure has not been disclosed, and only its economic model has been mentioned so far.

Market attention is also focused on where the developer’s current affiliation and the project structure intersect. Walrus Protocol is a decentralised data storage protocol in the Sui ecosystem that is developing large-scale data storage capabilities. That has raised the possibility that the new project may try to combine XRPL’s RLUSD and XRP payment rails with Walrus’ data storage capacity.

The startup is also distancing itself from typical crypto project playbooks. It says it will not issue its own token and will not offer manipulated incentives or free distributions. Instead, it claimed that net profit generated from real-world business can be several times higher than U.S. Treasury yields and can deliver profitability higher than any other stablecoin in the market.

That point leaves verification tasks alongside expectations. The project side has highlighted a high-yield structure but has not disclosed a business structure or risk management method to support it. With a white paper and corporate structure, actual partnership targets and profit-generation mechanisms missing, information the market can verify is limited.

One thing became clear from the teaser. RLUSD sits at the centre of the secret startup hinted at in cryptic posts that have continued since early August. The project has also opted for a direction that aims to bring cash flows from traditional industries onto XRPL rather than relying on liquidity within crypto. With disclosure expected in the first half of September, the next point to watch is whether the business model will expand RLUSD use cases and whether it can deliver the promised return structure.

"We will make RLUSD great again"