David Schwartz, Ripple’s chief technology officer, has provided clarity on the timeline for the launch of the company’s stablecoin. Addressing recent speculation, Schwartz clarified that the stablecoin is not scheduled to launch in June, contrary to some interpretations. Instead, he indicated that updates, including the announcement of the stablecoin name, are expected to be shared in June.
David Schwartz, Ripple’s chief technology officer, has provided clarity on the timeline for the launch of the company’s stablecoin. Addressing recent speculation, Schwartz clarified that the stablecoin is not scheduled to launch in June, contrary to some interpretations. Instead, he indicated that updates, including the announcement of the stablecoin name, are expected to be shared in June.
This clarification follows Ripple’s recent announcement of its entry into the stablecoin market, with the goal of improving the stability and accessibility of the XRP Ledger. The company intends to achieve this by backing the new stablecoin with a combination of US dollar reserves and similar assets, positioning itself as a competitor to established stablecoin creators such as Tether and Circle.
By collaborating with regulatory authorities and emphasizing compliance, the company aims to establish its stablecoin as a trusted digital asset, potentially mirroring the functionality of a digital dollar. In particular, Ripple’s established relationship with the SEC, despite its tense legal battles, lends greater credibility to the new company.
What about XRP?
The previous clarification provided by Schwartz also addressed questions about XRP’s role in Ripple’s vision for payment solutions. He emphasized that the popular cryptocurrency remains an integral part of the company’s vision, highlighting its suitability for specific transactional contexts. Schwartz underscored Ripple’s dedication to optimizing its services by leveraging XRP’s strengths while recognizing its limitations.
With Schwartz’s announcement, the XRP community anticipates more updates from Ripple in June, eagerly awaiting the progression of this important initiative and how it will impact the trajectory of their favorite cryptocurrency.
