Ripple is thrilled with the recent approval of RLUSD by New York regulators as they see stablecoins like RLUSD as crucial for improving cross-border payments and simplifying user integration into the XRP Ledger ecosystem. Ripple is also focused on enhancing the network’s functionality, driving adoption, and creating liquidity, with a particular emphasis on sectors like gaming.
Aaron McDonald, CEO of Futureverse, talked about the current XRP market, noting the recent rise in XRP’s price and the strong support from its community. On The Paul Barron Network, he explained that although they joined Ripple during tough times, they believed in the potential of the loyal XRP community. McDonald described the community as a “loaded spring” ready to bounce back once obstacles were gone.
He also said the upcoming RLUSD stablecoin backed by Ripple, could help bring more liquidity and support to the market. Stablecoins, he said, are useful for consumers and everyday transactions, especially in gaming. He’s excited about using this technology in Futureverse’s network. McDonald boasted XRP’s growth, with almost 20,000 trust lines now in place, showing XRP’s growing influence in the ecosystem.
He explained how XRP is used within their network, calling it the “gas token” for the Root Network. This means that XRP powers everything on the network, from transactions to smart contracts.
Over the past year, they’ve seen great progress by turning XRP into a valuable utility. In the first year, $13 billion worth of value was transferred on the network. Root Network validators also earned fees, with nearly 13% of the fees burned on the entire XRP ledger. McDonald aims to scale this success further in the coming year, hoping to 10x growth and increase the utility of XRP even more.
