Ripple CTO Affirms RLUSD Stablecoin’s Positive Impact on XRP
During the XRP Ledger Apex summit, Ripple CTO David Schwartz made a case for the upcoming Ripple USD (RLUSD) stablecoin, arguing that it would be beneficial for XRP rather than detrimental. Schwartz emphasized the increasing importance of stablecoins in the evolving DeFi landscape, highlighting their significance in enabling various use cases such as pricing, holding funds, and trading, particularly in scenarios where market exposure avoidance is desired.
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Schwartz also underscored the necessity of multiple asset classes for effective navigation of the DeFi ecosystem, emphasizing that automated market makers (AMMs) require at least two assets for trading and liquidity. He likened this need for diverse assets to the power of “or” versus the tyranny of “and,” stressing the importance of having options to cater to different use cases and demands.
Despite the introduction of the RLUSD stablecoin, Schwartz emphasized that XRP would maintain its privileged position as a bridge asset on the XRP Ledger (XRPL). He highlighted that the stablecoin ecosystem would expand the utility of XRP and enable additional use cases without undermining its existing role.
Ripple CEO, Brad Garlinghouse, echoed Schwartz’s sentiments, noting that RLUSD is a complementary addition to the XRP ecosystem, providing better on-ramps and off-ramps for all users. Garlinghouse affirmed Ripple’s commitment to the growth of the XRP ecosystem and emphasized that the introduction of stablecoin liquidity would not detract from this objective.
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