Industry leaders Ivan Soto-Wright of MoonPay and Nancy Beaton of Uphold have spotlighted stablecoins as a game-changing “killer use case” in the crypto industry. Their comments follow Ripple and MoonPay’s recent partnership announcement, which emphasized stablecoins’ potential to modernize payment systems and expand financial access.
Ripple launched its USD-pegged RLUSD stablecoin on the XRP Ledger on Dec. 17, and it will be available via MoonPay, a fiat-to-crypto exchange. The partnership aims to boost stablecoin usage, allowing users to deposit traditional USD and use RLUSD directly in supported wallets and marketplaces. Soto-Wright views Ripple XRP and its value proposition as a foundation for inclusive financial ecosystems. He said stablecoins are crypto’s best use case, stating, “The job isn’t done until the user experience for crypto is better than your bank.”
Nancy Beaton of Uphold praised RLUSD’s accessibility and regulatory compliance. “Stablecoins are the killer use case for crypto at the moment,” she noted, highlighting their cost-effectiveness, speed, and 24/7 settlement capabilities. RLUSD will also be available on the Uphold platform.
Stablecoins have become essential in modern finance due to their ability to address volatility. Once mainly for crypto traders, they now serve various functions like cross-border payments and low-cost, instant transactions. With a record-high $5.5 trillion in value settled in Q1 2024, stablecoins could enhance the U.S. dollar’s dominance and reshape the global financial system.
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