XRPL DEX now supports USDC, USDT via @GateHub, and the first euro-backed stablecoin is soon to come via @stasisnet. Let’s check out the benefits of support offered for stablecoins on the #XRPLedger: 1/6
https://twitter.com/GateHub/status/1501940537930117123
Many of XRPL’s core features (such as the world's first DEX) have been available since 2012. These features are extremely mature and functional, making it an ideal platform for stablecoin issuers to issue/manage assets of all kinds. 2/6
All they need to do is create an issuing account and set configuration options for the account and the particular stablecoin. That’s it. The XRPL’s native token functionality makes this possible. 3/6
Built for payments, the XRPL allows counterparties (FIs, central banks, govts) the ability to fully settle transactions cheaply in just a few seconds. This assurance eliminates overnight and business risks for FIs in particular. 4/6
Such counterparties are why one universally agreed-upon stablecoin is highly unlikely. There are a few reasons for this but mainly because stablecoins have an issuer as the counterparty that does not allow them to interoperate across payment networks and jurisdictions. 5/6
Neutral, counterparty-free digital assets (like XRP) solve this problem by acting as a bridge that allows payments to be settled quickly and efficiently without needing any trusted central intermediary. 6/6
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