David Vance

DeFi

when

Apex

<p>At the XRP Ledger Apex Summit 2024, David Schwartz, CTO of Ripple, claimed that the future Ripple USD stablecoin (RLUSD) will be a tremendous asset to drive adoption and use of the native crypto XRP. This statement comes at a time when some observers are questioning the evolving role of XRP in the Ripple ecosystem with the imminent arrival of the highly anticipated RLUSD.</p>
<h2 id="h-ripple-s-rlusd-stablecoin-the-missing-piece-to-unlock-xrp-s-full-potential">Ripple’s RLUSD Stablecoin, the Missing Piece to Unlock XRP’s Full Potential</h2>
<p>Ripple’s recent announcement of its intention to soon launch a <a href="https://www.cointribune.com/en/crypto-ripple-enters-the-race-for-stablecoins-backed-by-the-dollar/" target="_blank" rel="noopener noreferrer nofollow">stablecoin</a> backed by the US dollar, the RLUSD, has sparked some concerns within the community, with some fearing that this newcomer might overshadow the native XRP token. However, at the <a href="https://thecryptobasic.com/2024/06/13/ripple-cto-confirms-rlusd-stablecoin-is-good-for-xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP Ledger Apex Summit 2024</a>, Ripple executives worked to dispel these unfounded apprehensions.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>According to David Schwartz, Ripple’s CTO, the arrival of the RLUSD, far from threatening XRP’s position, will instead act as a catalyst to unlock its full potential and open new opportunities. He emphasized the close ties that will bind RLUSD to XRP, making their coexistence not only possible but highly synergistic.</p>
<p>Echoing this sentiment, Brad Garlinghouse, Ripple’s CEO, stressed that the RLUSD will be an accelerator for the <a href="https://www.cointribune.com/en/crypto-xrp-attracts-100k-new-investors-in-june-ready-for-the-explosion/" target="_blank" rel="noopener noreferrer nofollow">XRP ecosystem</a> as a whole. Designed and conceived to foster success for all stakeholders, this innovative stablecoin will greatly facilitate access and use of XRP by offering optimized entry and exit gateways.</p>
<blockquote class="wp-block-quote">
 <p>“<em>The arrival of the RLUSD does not compromise our unwavering commitment to XRP. On the contrary, it will strengthen its unique position by allowing it to fully deploy its strengths to serve ever more varied and promising use cases</em>.”</p>
</blockquote>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-the-necessity-of-stablecoins-in-the-defi-ecosystem">The Necessity of Stablecoins in the DeFi Ecosystem</h2>
<p>The evolution of the DeFi space has highlighted the crucial role of stablecoins, which have become indispensable tools in certain scenarios. Schwartz explained that while volatile assets like XRP have their utility, stablecoins are essential for pricing, fund storage, and trading when participants wish to avoid market exposure.</p>
<p>Additionally, Automated Market Makers (AMMs) require at least two assets for trading and liquidity. This underscores the need for a variety of asset classes to effectively navigate the DeFi landscape.</p>
<p>The CTO of Ripple also noted that XRP will retain its privileged role as a bridge asset on the XRP Ledger (XRPL). Pathfinding always prioritizes XRP liquidity, and automatic bridging ensures that this liquidity is considered in transactions. The introduction of the stablecoin ecosystem will enable more use cases without undermining XRP’s position.</p>
<p>The forthcoming arrival of RLUSD is an opportunity for <a href="https://www.cointribune.com/en/crypto-ripple-plays-its-last-trump-card-to-destabilize-the-sec/" target="_blank" rel="noopener noreferrer nofollow">Ripple</a> to solidify its lead and reaffirm its leadership in the crypto industry. Far from threatening XRP, this innovative stablecoin will be a powerful catalyst to unlock its full potential and open exciting new horizons.</p>

Crypto: Ripple’s Stablecoin, the secret weapon for a spectacular rise in XRP

Table of Contents

Cointribune EN

Other articles published on Jun 14, 2024

Tether CEO Says Bitcoin Stands Alone in True Decentralization

Gensler’s crypto crackdown could cost Biden the election: Mark Cuban

The MoonBag Presale Phenomenon: Overpowering BOME and BITBOT’s Fumble, Moonbag’s $1 Prediction Ig...

What Meme Coins Are Receiving Investors Support Today?

XRP Price Increases Before FOMC Announcement

Why June 2024 is Prime Time to Invest in 5thScape Amid Ripple Case?

Join our free newsletter for daily crypto updates!