Ripple Isn’t Competing With Stablecoin

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XRP does not compete with Stablecoin or CBDC

XRP, the third-largest crypto asset, is currently struggling to reach $ 30. Apart from having a large market cap, XRP is primarily used across payment networks to bridge liquidity issues. Nonetheless, Ripple Senior Director Emi Yoshikawa shared his views on how he sees XRP in the Stablecoin and CBDC chaos.

When talking about expanding Ripple's reach in central Asia, Japan, he highlighted that Ripple's native token XRP is primarily focused on global payment systems. He strongly argues that XRP is not in competition with Stablecoins and CBDCs like China's digital Yuan. Apart from that, he also emphasized that stable coins, CBDC, and crypto assets like XRP can together bridge liquidity problems.

"There are various types of crypto assets, but in my opinion, the role of XRP as an asset bridge in international settlement is not a competition with Stablecoins or CDBC, but rather, complementary," said Emi.

“I think that the role of #XRP as a bridge asset in international settlement is not competing with #stablecoins or #CBDCs, but on the contrary, are complementary.”-@emy_wng via @fxcoin_jp https://t.co/Exv4xbFtPr

— Ripple (@Ripple) August 19, 2020

The director also emphasized Ripple's Liquidity On-Demand (ODL) which uses XRP for international transfers without the need for a Nostro account. He went on to say that Ripple's current focus is on launching ODL in new markets by breaking down barriers and engaging local regulators.

Also through xSpring Ripple, an initiative to assist and assist companies and projects run by proven entrepreneurs, the company is focused on creating new use cases using XRP and Interledger technologies.

20% of RippleNet transactions occur using XRP

On the other hand, Ripple's SVP of product development and company, Asheesh Birla stated that 20% of RippleNet transactions occur using XRP. Tweeted about the increasing demand for ODL, Mr. Birla said;

XRP struggled to maintain $ 0.30 and fell back to $ 0.29 at the time of reporting this. As per Coinmarketcap, the token is currently up 1.42 percent in the past 24 hours, holding a market cap of $ 13,168,806,137.