While it might be hard to believe, market analysts believe that Ripple’s XRP could become a stablecoin. Amid speculations around the stablecoin debut for Ripple, Black Swan Capitalist Founder Versan Aljarrah has asserted that XRP could play a vital role amid calls for gold-backed stablecoins.
XRP To Evolve Into A Gold-Backed Stablecoin?
In a post on X, Aljarrah underscored the calls for a gold-backed stablecoin from institutions like the World Bank, International Monetary Fund (IMF), and World Gold Council. He added that these institutions have been urging for such a development so central banks could tokenize gold reserves. Furthermore, he revealed that Black Swan Capitalist’s financial analyst Vandell and Miles Franklin CEO Andy Schectman conducted extensive research on XRP and the market in general.
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 much research, along with @vandell33 & @MilesFranklinCo we believe #XRP will be the key https://t.co/C55QJaLkOx
— Black Swan Capitalist (@VersanAljarrah) February 16, 2024
Citing the research, the Black Swan Capitalist founder concluded that XRP is the “key” to a gold-backed stablecoin. Hence, it can be rightly speculated that XRP could evolve into a stablecoin, which would differ from the traditional USD-pegged stablecoins. The tweet quoted Aljarrah’s July tweet wherein he highlighted Ripple’s victory against the SEC when the courts confirmed that XRP is not a security.
In that post, Aljarrah noted that there would be a shift of focus to Ripple’s stablecoin debut which the XRP Ledger (XRPL) has been planning for years. Hence, the Black Swan Capitalist founder doubled down on his previous claims. Moreover, Sean McBride, former Ripple director, responded to the tweet. Emphasizing similar claims made by him recently, McBride wrote, “You mean what I surfaced yesterday?”
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Sean McBride Provides Clarity On Ripple’s Stablecoin Frenzy
When an XRP supporter questioned McBride if XRP’s evolution to a stablecoin is a certainty, the ex-Ripple director said otherwise. He stated, “No, what I think is more likely is that #XRP is classified as something entirely different. Something like a payments stablecoin.”
No, what I think is more likely is that #XRP is classified as something entirely different. Something like a payments stablecoin. But for #XRP to transact B2B payments at scale across borders and institutions, “#XRP can’t be dirt cheap”.
— Sean McBride (@seanmcbride16) February 16, 2024
Moreover, McBride added that if XRP is to transact massive B2B transactions across borders and institutions, it can be “dirt cheap.” Earlier, McBride hinted at XRP’s Stablecoin journey as he stated the World Bank recognizes it as a stablecoin. However, the World Bank’s stance has been met with a lot of skepticism.
The XRP community and other crypto enthusiasts noted that the World Bank lists XRP as a stablecoin since Ripple’s XRPL announced its plans to launch a stablecoin years ago. Therefore, the speculations of XRP transforming into a stablecoin seem less viable to those who contradict the World Bank’s stance.
Also Read: XRP News: Pro-XRP Lawyer Questions SEC’s Integrity In Hinman Conflict
