Ripple CTO Debunks 'We Don't Need XRP' Rumors
Ripple CTO debunks rumors of XRP's redundancy amid company's announcement of its own stablecoin
In a recent development, David
Schwartz, the CTO at Ripple, addressed concerns raised by some members
of the XRP community regarding the necessity of XRP in light of Ripple's
latest venture into stablecoin territory.
Earlier this month, Ripple made
headlines by unveiling its own dollar-pegged stablecoin, set to be
issued later this year. Backed by U.S. dollar deposits, short-term
treasury bonds and other cash equivalents, the token marks a significant
milestone in Ripple's expansion efforts. Initially deployed as an
ERC-20 standard token, it promises to enhance the efficiency and
stability of transactions within the ecosystem.
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