Black Swan Capitalist Engages in a Debate: Can Ripple’s XRP Become a Stablecoin Backed by Gold?
Article Highlights:
The future role of XRP has sparked discussions after the World Bank classified it as a stablecoin.
There are speculations that Ripple may issue a stablecoin on the XRP Ledger.
Some believe XRP could become a gold-backed stablecoin, while others are skeptical.
Crypto enthusiasts are buzzing with speculation as Versan Aljarrah, Founder of Black Swan Capitalist, hints at a potential transformation for Ripple’s XRP.
This time, the focus is on the idea of XRP becoming a gold-backed stablecoin, a departure from the usual USD-pegged stablecoins.
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Let’s take a deeper look at this intriguing concept.
Ripple’s Classification Sparks Debate
The journey began in 2023 when the World Bank unexpectedly classified XRP as a stablecoin. This move ignited discussions within the crypto community about the future of cross-border payments and the role of digital currencies in traditional banking.
The final ruling settled it: #XRP is NOT a security! We already won. It’s time to turn the page and shift the discussion to #stablecoins, where stability meets #innovation.
Months ago, we covered an article from the #WorldBank on stable coins. Shouldn’t we talk about it?
pic.twitter.com/tuBXWH0TDK — Black Swan Capitalist (@VersanAljarrah) July 31, 2023
Former Ripple director Sean McBride’s comments further fueled the fire, highlighting the World Bank’s surprising classification and sparking conversations about the evolving role of XRP. He seeks insights from the community.
Ripple has substantial capital. While I’m interested in your thoughts, why move away from #XRP and its utility when progress is being made, and many, including the World Bank, already classify #XRP as a stablecoin? Thank you for your research and insight. It’s truly…
— Sean McBride (@seanmcbride16) February 14, 2024
While XRP has traditionally been positioned as a bridge currency for cross-border transactions, recent speculations suggest a strategic shift for Ripple. Talks of integrating stablecoin functionality through Automated Market Makers (AMMs) have raised questions about how Ripple plans to meet stability demands in the banking sector.
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XRP as the Perfect Gold-Backed Stablecoin
Versan Aljarrah, backed by research from Black Swan Capitalist’s financial analyst Vandell and Miles Franklin CEO Andy Schectman, boldly predicts that XRP has the potential to be an ideal gold-backed stablecoin.
“We’ve been vocal about the #WorldBank, #IMF, and World Gold Council openly discussing the need for a #gold-backed #stablecoin for central banks to #tokenize gold reserves. After extensive research, along with Vandell & Miles Franklin Co (Andy Schectman), we believe XRP will be the key.”
While some in the crypto community are optimistic about XRP’s shift to a gold-backed stablecoin, others express skepticism about the benefits of introducing such a stablecoin on the XRP Ledger (XRPL).
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Bitcoin, Ethereum, And XRP Price Prediction For Next Week!
A Shift in the Financial Sector
Beyond the XRP debate, the potential transformation into a stablecoin signifies a broader shift in the financial sector. This change is driven by a desire for efficiency, security, and global reach. The ongoing debate questions XRP’s original mission and whether the World Bank’s classification is a positive endorsement or a sign of further evolution.
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Ripple (XRP)