BITPRISMIA
Eric Trump and Zach Witkoff promoted USD-1 stablecoin on Fox Business, avoiding direct discussion about XRP, while emphasizing USD-1's rapid growth and regulatory compliance.
RLUSD, Ripple's USD-pegged stablecoin, is argued to enhance XRP's utility within the XRP Ledger (XRPL) ecosystem rather than replace it, as XRP holds a unique and irreplaceable role as the native asset of the XRPL.
Ripple has strategically moved 20,000,000 RLUSD from Ethereum to the XRP Ledger (XRPL), burning the tokens on Ethereum and minting an equivalent amount on XRPL, to optimize liquidity for XRPL-based applications.
Ripple President Monica Long highlights the benefits of Ripple USD (RLUSD) as a stablecoin designed to reduce volatility and enhance global transactions, while addressing liquidity challenges and leveraging Ripple's blockchain infrastructure.
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Ripple is establishing a federally chartered trust bank, Ripple National Trust Bank, to manage digital asset reserves like XRP and RLUSD, aiming to enhance its role in global finance without offering consumer-facing services.
The SEC's classification of compliant stablecoins as cash equivalents has sparked optimism in the XRP community, with Ripple's RLUSD seen as well-positioned to benefit from this regulatory clarity.
Ripple's CTO David Schwartz emphasizes XRP's continued central role in Ripple's cross-border payment solutions, while clarifying that RLUSD serves different purposes, addressing community concerns about XRP's prominence.
Ripple CTO David Schwartz emphasizes XRP's dominant role as a bridge asset in Ripple Payments, while acknowledging stablecoins' utility for collateral and edge cases due to their stability.