Ripple CTO: Stablecoins Won't Replace XRP, Focus on Efficient Payment Solutions

IconCrypto News Terminal25 Apr, 2024

cryptonews.jpg

Ripple CTO: Stablecoins Won't Replace XRP, Focus on Efficient Payment Solutions

Ripple's Chief Technology Officer David Schwartz has dismissed concerns that stablecoins could replace XRP, emphasizing the cryptocurrency's continued relevance. Amid rumors that Ripple may release its own stablecoin, Schwartz argued that stablecoins offer limited advantages compared to efficient XRP payment solutions. "Our primary goal is to eliminate obstacles in XRP usage," Schwartz stated. "Stablecoins are only beneficial for long-term asset holdings, while efficient payment solutions are crucial for everyday transactions." Previously on 23 April 2024, Schwartz highlighted the need for efficient XRP payment solutions, emphasizing that stablecoins provided limited advantages unless assets were held for extended periods.

Related News