XRP Recognized as Stablecoin by the World Bank, Claims Former Ripple Director

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In a recent Twitter exchange initiated by Ripple supporter Wrath of Kahneman, the debate around XRP’s role in the stablecoin ecosystem gained momentum. Former Ripple director Sean McBride joined in, offering insights and shedding light on the World Bank’s classification of XRP as a stablecoin.

So, is XRP about to transform into a stablecoin powerhouse? Or is there another play in Ripple’s playbook? Let’s explore.

XRP’s Potential Transformation

McBride expressed belief in XRP’s utility and revealed the World Bank sees it as a stablecoin, hinting at a possible shift from its current status as a US-pegged cryptocurrency by Ripple.

The World Bank’s acknowledgment adds legitimacy to Ripple’s efforts in positioning XRP as a reliable bridge currency for cross-border payments. This recognition reflects XRP’s acceptance and utility in the global financial landscape.

However, the controversial nature of the World Bank’s stance raises questions, with some attributing it to XRPL’s plans to introduce a stablecoin.

Read More: Ripple News: XRP Community Questions Missing Ripple Stablecoin on XRPL

Ripple’s Long-term Choice 

The discussion also raised questions about why Ripple hasn’t introduced a stablecoin on the XRPL in the past ten years. Some speculate that Ripple’s goal of positioning XRP as a bridge currency between Central Bank Digital Currencies (CBDCs) could be influencing this decision.

Influencer Mr. Huber highlights Ripple’s view, considering private stablecoins as rival technologies and emphasizing XRP’s role as a bridge currency.

As debates persist about Ripple’s strategic direction, McBride’s support for XRP’s utility and the World Bank’s acknowledgment of its stability carry weight in ongoing discussions.

XRP’s Evolving Role

Amidst ongoing discussions about XRP potentially becoming a stablecoin, the conversation is dynamic. Fueled by insights from industry insiders, Ripple supporters, and the World Bank’s classification, the discourse continues to evolve.

As Ripple’s strategic choices come under scrutiny, the unfolding narrative prompts reflection on the potential transformations that could shape XRP’s role in the broader crypto landscape.

Also Read: Ripple Celebrates Major Acquisition Along with Other Regulatory Milestones