Sean McBride, a former head of Ripple, hinted in his response to Wrath of Kahneman's tweet that XRP could become a stablecoin in the wake of the World Bank's recognition.
"Many, including the World Bank, are already classifying XRP as a stablecoin," McBride pointed out.
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Wrath of Kahneman, a prominent XRP supporter, started a discussion on X (Twitter) about XRP's recognition as a stablecoin, which is an affirmation of Ripple's efforts to make XRP function as a trusted intermediate currency for cross-border payments and settlements, CoinGape reported.
McBride is confident that XRP will become a stablecoin rather than another cryptocurrency tied to the US because it has great potential and will benefit the financial ecosystem.
The World Bank's recognition of XRP as a stablecoin shows the growing acceptance of Ripple's efforts. However, some crypto market participants believe that the World Bank's stance was pressured by the XRP Ledger's (XRPL) plans to launch a stablecoin. In any case, the World Bank's recognition of XRP significantly increases confidence in Ripple.
Following McBride's response, Wrath of Kahneman emphasized the potential benefits of the stablecoin revolution, which are that a regulated stablecoin could attract massive liquidity to the ledger, eliminating concerns about XRP's volatility in payments.
The discussion also raised questions about Ripple's decision not to introduce a liquid stablecoin on XRPL over the past decade. Mr. Huber, a well-known expert in the cryptocurrency world, suggested that Ripple's focus on creating XRP as an intermediate currency for central bank digital currencies (CBDCs) may have played a role in this strategic decision.
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It is worth noting that this discussion sheds light on the strategic goals Ripple may be considering as it navigates the rapidly evolving digital currency environment. At the same time, the World Bank's recognition adds credibility to XRP and highlights the potential of cryptocurrencies to transform the global financial system.
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