Stablecoins are very safe to exchange or store because they retain their correct value. Because such coins provide very secure payment. It has recognized stablecoins as a digital currency category that offers instant processing and secure payments. Recently the World Bank chose Ripple's XRP coin as a stablecoin for cross-border payments. Even so they emphasized their stability in relation to parity with fiat currencies. These types of transactions are usually safest through stablecoins. For that the World Bank has chosen two virtual assets i.e. digital currencies. And they believe that these fall into the category of stablecoins. Ripple's cross-border payment currency, XRP, and Stellar Network's native asset, XLM, have been selected by the World Bank for cross-border payments.
One of the reasons for choosing these two coins is that cross-border payments can be made through them much faster than traditional banking systems. And this matter is emphasized in the report of the World Bank. XRP and XLM coins enable faster and more efficient cross-border payments than traditional correspondent banking methods. Sean McBride, a former director of global talent acquisition at Ripple, drew the attention of digital assets in this regard.
He also opined that Ripple does not need another stablecoin. This type of thinking only occurs when
The context of the conversation was when Ripple was considering issuing its own stablecoin. Prominent XRP community figure Wrathof Kahneman opined on whether Ripple's recent custody acquisition hints at an underlying plan for such a move. He opined that Ripple can use stablecoins in liquidity pools that can essentially list on exchanges with significantly higher levels of certification and compliance than USDT and USDC.
Of course, such thoughts cannot be ruled out. Because Ripple chimes in to accept Director Walk's proposal. Although he shied away from Ripple and its utility. He also questioned the reasoning behind the move away from XRP and its utility. We know it is a very popular coin currently and Ripon is a very popular and well-known company. However many including the World Bank have already classified XRP as a stablecoin. He expressed an opinion about this and claimed that many institutions and even the World Bank want to get XRP coin as a stablecoin.
It has also been announced that the World Bank has chosen this Ripple coin as a stablecoin for cross-border payments. However, in response to questions about why he moved away from XRP, he replied that the main goal was to create a liquidity generator through AMM. He also elaborated on a few other things, and he mentioned that numerous reports have cited XRP's volatility as a payment flaw. He doesn't fully share the point of referring to XRP's volatility as a payment flaw, or a view like that.
An important point here is that Crypto Basics recently drew attention to a proposed scenario. Where this digital coin provides stability. This digital currency even addresses the stability demands of the banking sector and integrates stablecoin functionality through AMM to address the stability demands of the banking sector. However, there is also a dispute among many whether this digital currency is still a fully stablecoin. Many believe that such a currency can never be a stable currency. The scenario of considering this currency as a stable currency remains highly speculative. Because most of the community members who are members never consider such digital currency as a stable coin.
Many people are skeptical about whether such digital coins will be stablecoins. The reason for this is that the price of this currency rises a lot. For example, if we look closely at the market, we can see that its price has increased slightly compared to the last few days. Anyway if you want to know more about this then read this news .