Topic: Ripple's Stablecoin: The future US CBDC? - page 2. (Read 255 times)
Government never like when Private currency is becoming dominant that reason is enough why ripple's stable coin will be facing strong hands from FEDs no matter what. And Ripple is sinking ship in the crypto space so it doesn't have enough influence to turn around the domination of Tether in the stable coin market.
I have heard that the stablecoin launched by Ripple would be one backed by real USD in cash and bonds. So that people would feel safe to transact it it. Considering the popularity and limited option in stablecoin market, Ripple's USD could be a hit. The case against the SEC is also said to be going towards the favor of Ripple. If they get a win against SEC and a popular stablecoin, it might also propel the price of Ripple. Not currently holding it but I plan to get some by the end of this year. The court hearing is ought to be prolonged over this year.
They declared it backed 100% by US dollar deposits, short-term US Treasurys and other cash equivalents.https://blockworks.co/news/ripple-issuing-cash-equivalent-backed-stablecoin
But this does not mean that it is 1:1, meaning that before issuing any stable coin, there must be a dollar value that will be deposited in your account, and then no one can know whether it is 100% or whether new asset classes will be added such as real estate, which will be difficult to liquidate to ensure 1: 1, will be backed by promises will be exactly as USDT.
Conspiracy Theory that's what they would say to you. But it would be too late to know it when you kept using it already. But why should you concentrate more on Ripple's Stablecoin, we have already using stablecoin from the beginning. There's Tether and USDC and the rest that we are not even using considering that the government does not even check USDT Tether despite its controversy.
The U.S. government will always want other countries to use their USD. But SWIFT is not a monopoly anymore. Economic powerhouses already have their own.
Since the one who will launch it is a company, it will be competing with USDT and USDC, not CBDC. I also doubt their ability to maintain $1 if new judicial developments occur with the SEC, and we have Payapl, which launched its stable currency and did not gain that momentum.
I have heard that the stablecoin launched by Ripple would be one backed by real USD in cash and bonds. So that people would feel safe to transact it it. Considering the popularity and limited option in stablecoin market, Ripple's USD could be a hit. The case against the SEC is also said to be going towards the favor of Ripple. If they get a win against SEC and a popular stablecoin, it might also propel the price of Ripple. Not currently holding it but I plan to get some by the end of this year. The court hearing is ought to be prolonged over this year.
Since the one who will launch it is a company, it will be competing with USDT and USDC, not CBDC. I also doubt their ability to maintain $1 if new judicial developments occur with the SEC, and we have Payapl, which launched its stable currency and did not gain that momentum.
The only time that it could become the official US digital dollar is if Tether somehow ends their collaboration with the US government. As we all know, Tether (USDT) is working hand in hand with US 3-letter agents in terms of collaboration.
If Ripple can get this stablecoin out and put it into the market, we can only see great competition in terms of use, knowing fully well that most banks have inter-business relationships with Rippler, so it's easier to get a business collaboration with them and expand its use to other banks as part of their recognised digital currency.
If Ripple can get this stablecoin out and put it into the market, we can only see great competition in terms of use, knowing fully well that most banks have inter-business relationships with Rippler, so it's easier to get a business collaboration with them and expand its use to other banks as part of their recognised digital currency.
Ripple, Inc. recently proposed the creation of a USD-backed stablecoin. It aims to compete with already-established players (mainly USDT and USDC) on the market. For years, the XRP Ledger was believed to become SWIFT's replacement in the future. It hasn't materialized yet, but XRP is already used by many banks worldwide. It enables interbank payments at a fraction of the cost. Settlement times are near-instantaneous.
Now if Ripple succeeds with its stablecoin project, would it become the US' official "Digital Dollar"? For what I know, Ripple, Inc. is an American-based company headquartered in . The FED might work hand-in-hand with the company to radically transform the USD as we know it. Do you think this is possible? If not, why? What if it becomes a reality? Will such a move strengthen the USD's position as the world's reserve currency?
Your input would be greatly appreciated. Thanks.
Now if Ripple succeeds with its stablecoin project, would it become the US' official "Digital Dollar"? For what I know, Ripple, Inc. is an American-based company headquartered in . The FED might work hand-in-hand with the company to radically transform the USD as we know it. Do you think this is possible? If not, why? What if it becomes a reality? Will such a move strengthen the USD's position as the world's reserve currency?
Your input would be greatly appreciated. Thanks.
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