Ripple XRP's Game-Changing Stablecoin: A Threat to USDC, USDT, & PYUSD's Dominance?

A high-quality USD stablecoin on the XRPL – with its decentralized exchange and features like issued currencies, auto-bridging (that uses XRP as the native currency to facilitate trades between other assets), and the AMM — will be a gamechanger for users and devs. https://t.co/uGC72bosfM

— David "JoelKatz" Schwartz (@JoelKatz) April 4, 2024

[1/🧵] @Ripple announced today that they will introduce a new stablecoin pegged 1:1 to the US dollar.

🔸 Does this imply that XRP is doomed? 🤨

Let's learn together to fully understand the bigger picture. 👇 pic.twitter.com/NjvkdYCPDK

— Krippenreiter (@krippenreiter) April 5, 2024

Austin Federa, Head of Strategy at the #Solana, sat down with @circle Director Sam Sealy 8 days ago.

The Fastest Growing Crypto Network Solana + $USDC Stablecoin for Payments.

The Competition in the Stablecoin Market is going to be Intense. 🍿 pic.twitter.com/idWfr5qPsQ

— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) April 7, 2024

What might our monetary world look like after the @Tether_to fraud disappears, @circle is left to support the #USDC stablecoin and @Ripple + #XRP supports both the US and ALL the world’s stablecoins?

How important is liquidity to financial markets?

How important is soundness,… https://t.co/4nsdz3mj95 pic.twitter.com/kAPAPoIzND

— Rob Cunningham | KUWL.show (@KuwlShow) April 7, 2024

I realize it’s importance, just trying to grasp how it will work in payments with XRP. I understand its benefit to the XRPL DEX. The auto-bridging function on the XRPL allows efficiency in stablcoin trading and the stablecoins minimize volatility which is important to DeFI… https://t.co/djuSMme3Yx

— bill morgan (@Belisarius2020) April 4, 2024

You say you will use the new stablecoin together with XRP in crypto enabled payments. I have assumed XRP was sufficient of itself as a bridge in payments so how are they used together or why do they need to be used together. Are they options to use as the payment bridge and… https://t.co/PLdB4H3cUE

— bill morgan (@Belisarius2020) April 4, 2024

Stablecoins play a vital role as on/off ramps to USD. In the wake of last year’s banking crisis, they’re necessary for traditional institutions (esp in the US) to access crypto markets. I’m incredibly excited for Ripple to fill a key need in the market with our stablecoin! https://t.co/9KjfuYIM9e

— Monica Long (@MonicaLongSF) April 4, 2024

@Ripple's stablecoin announcement moves us one step closer to onchain FX. I believe and hope the end game is to stay onchain, transfer onchain, pay onchain, do everything onchain, and enable interoperability among systems. There will be no need to offramp and exit to the… https://t.co/p1sNS5RrhX

— Panos 🔼{X} (@panosmek) April 4, 2024

Now we are fucking talking. Super excited about this. This is not just great for the XRPL ecosystem and its AMM, but also the whole industry. I hope this is just the beginning and Ripple launches more fiat stablecoins such as EUR, GBP, JPY, and more. https://t.co/kemDhFg0u9

— Panos 🔼{X} (@panosmek) April 4, 2024

XRP cannot be a stable coin. Impossible. Don’t believe me, look to Ripple’s Jazzy Cooper, Senior DeFi product manager who confirmed XRP is not a stable coin. Why do you keep entertaining people with comments made by those who obviously 🙄 are incorrect? https://t.co/TvmZ6lhtOL

— 🌸Crypto Eri 🪝Carpe Diem (@sentosumosaba) April 7, 2024

Welcome to the dollar stablecoin party, @Ripple. It is encouraging to see more companies taking a compliance-first approach to building onchain dollars. Congrats on taking the plunge!https://t.co/KyFVqNitts

— Jeremy Allaire (@jerallaire) April 4, 2024

So my defi noob question is, "If Ripple releases a stablecoin on the XRPL and ETH, in what sense are they the same coin?" Do they interact other than a bridge? Are they releasing a wrapped XRPL version at launch on ETH or 2 coins w same name? #XRP

— WrathofKahneman (@WKahneman) April 5, 2024