Ripple Chief Technology Officer David Schwartz managed to come to the fore with a new cryptic tweet that caught the attention of the XRP community.
This time, Schwartz posted a photo of a logo placed behind a display case. The company’s logo says “Sunscream”. The XRP community quickly responded to Schwartz’s tweet, sharing their association with the word “scream.”
However, many ignored the tweet itself and started asking questions about the altcoin’s price and Ripple’s future stablecoin in the comments, making the authorities heard. worked.
Hey what’s the ripple stable coin going to be called?
NEWS CONTINUES BELOW— XRP_Bandit💰 (@Chief_XRP) April 5, 2024
As we reported as Koinfinans.com, Schwartz has become a name that does not hesitate to come to the fore by frequently publishing encrypted messages on his X account.
earlier this week Ripplehit the headlines by announcing plans to launch a stablecoin pegged to the US dollar.
The press release by Ripple states that the new asset will be fully backed not only by USD deposits but also other cash equivalents. These funds will be audited by an accounting firm hired specifically for this task. The company will issue attestations on a monthly basis.
Currently, the stablecoin market is valued at $150 billion and is expected to grow to more than a staggering $2.8 trillion in the next four years. Ripple wants to help the market meet this ever-increasing demand and launch its own stablecoin, using its extensive experience in creating financial solutions for various global financial institutions.
The stablecoin will run on both the XRP Ledger and Ethereum blockchain platform and will aim to expand to other blockchains and DeFi applications in the future.
Ripple boss Brad Garlinghouse stated that this is a natural move for Ripple to build a digital bridge between the traditional financial system and the new world of cryptocurrencies and blockchain.
