{"id":247845,"date":"2024-02-15T15:55:59","date_gmt":"2024-02-15T10:25:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=247845"},"modified":"2024-02-15T15:55:59","modified_gmt":"2024-02-15T10:25:59","slug":"ex-ripple-exec-teases-xrps-stablecoin-evolution-amid-world-bank-recognition-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ex-ripple-exec-teases-xrps-stablecoin-evolution-amid-world-bank-recognition-crypto-news\/","title":{"rendered":"Ex-Ripple Exec Teases XRP’s Stablecoin Evolution Amid World Bank Recognition – Crypto News"},"content":{"rendered":"

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Ripple\u2019s XRP is in the news again for the stablecoin frenzy surrounding XRP Ledger (XRPL)<\/a> for several years now. Sean McBride, a former director at Ripple, engaged in a discussion sparked by a tweet from a prominent Ripple supporter known as Wrath of Kahneman. The tweets revolved around the potential issuance of a stablecoin by Ripple and its implications for XRP\u2019s role within the ecosystem.<\/p>\n

Will XRP Become A Stablecoin?<\/h2>\n

McBride, while acknowledging the speculation, reaffirmed his belief in XRP\u2019s utility and the progress being made with its adoption. Furthermore, he highlighted the World Bank\u2019s classification of XRP<\/a> as a stablecoin, hinting at the possibility of it becoming a stablecoin in the future rather than a new US-pegged crypto by Ripple.<\/p>\n

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The World Bank\u2019s recognition of Ripple\u2019s native crypto as a stablecoin underscores its growing acceptance and utility within the global financial landscape. This acknowledgment provides a significant validation of Ripple\u2019s efforts to position XRP as a reliable bridge currency for cross-border payments and settlements.<\/p>\n

However, it is to be noted that the World Bank\u2019s stance is a bit controversial. Analysts have reiterated that the World Bank might have listed XRP as a stablecoin since the XRPL has announced plans to roll out a stablecoin for years. In addition, the speculations around the Ripple-backed crypto transforming into a stablecoin have been thought to be baseless.<\/p>\n

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On the other hand, Wrath of Kahneman expressed his unwavering support for XRP following McBride\u2019s response. He noted that a stablecoin revolution for Ripple<\/a> could bring in massive liquidity. He stated, \u201cSo many reports note XRP volatility as a drawback for payments. I don\u2019t see it that way but wonder if a fully regulated stable could draw that liquidity to the ledger.\u201d<\/p>\n

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Also Read: Is Pro-XRP Lawyer John Deaton Running Against Elizabeth Warren In Senate Race?<\/a><\/strong><\/p>\n

Why Hasn\u2019t Ripple Rolled Out A Stablecoin Yet?<\/h2>\n

However, the discussion also brought to light questions surrounding Ripple\u2019s decision not to introduce a liquid stablecoin<\/a> on the XRPL over the past decade. Speculations from crypto influencer Mr. Huber suggested that Ripple\u2019s focus on establishing XRP as a bridge currency between Central Bank Digital Currencies (CBDCs) may have influenced this decision.<\/p>\n

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In addition, He emphasized that Ripple views private stablecoins as competing technologies, thus prioritizing its native token\u2019s role as a bridge currency. While the debate continues regarding Ripple\u2019s strategic direction, McBride\u2019s defense of XRP\u2019s utility and the World Bank\u2019s recognition of its stability serve as compelling factors in the ongoing discourse.<\/p>\n

Also Read: XRP Whale\u2019s 47 Mln Selloff Sparks Speculations As Price Jumps Past $0.55<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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Ripple\u2019s XRP is in the news again for the stablecoin frenzy surrounding XRP Ledger (XRPL) for several years now. Sean McBride, a former director at Ripple, engaged in a discussion sparked by a tweet from a prominent Ripple supporter known as Wrath of Kahneman. The tweets revolved around the potential issuance of a stablecoin by […]<\/p>\n","protected":false},"author":2,"featured_media":230877,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-247845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=247845"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247845\/revisions"}],"predecessor-version":[{"id":247847,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247845\/revisions\/247847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/230877"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=247845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=247845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=247845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}