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Crypto Community Divided Over Ripple’s Plan to Introduce Stablecoin

Published 04/05/2024, 05:48 PM
Updated 04/05/2024, 06:15 PM
Crypto Community Divided Over Ripple’s Plan to Introduce Stablecoin
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XRP/USD
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  • Ripple’s plan to introduce stablecoin brings along scepticism over integration with XRP in payments.
  • Bill Morgan questions the necessity of combining stablecoin with XRP in crypto-enabled payments.
  • Ripple aims to bridge traditional finance and crypto through stablecoin launch on XRP Ledger.

Famous Attorney and key figure in the digital asset world, Bill Morgan, has publicly questioned Ripple CEO Brad Garlinghouse’s announcement regarding the company’s forthcoming stablecoin launch.

Yesterday, Ripple had announced its intention to introduce a stablecoin pegged 1:1 to the USD, to be hosted on the XRP Ledger and Ethereum. The decision came in response to the flourishing stablecoin market, which is valued at around $150 billion, with projections indicating exponential growth to exceed $2.8 trillion by 2028.

The…

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