Ripple Chief Technology Officer David Schwartz said on his personal Twitter page that the company is interested in stablecoins issued on XRP Ledger (XRPL).
However, according to Schwartz, the company has no plans to do it on its own.
"We are interested in stablecoins issued on XRPL, both with counterparties (many of which currently exist) and XRP collateralized (which would require extensive new XRPL code). We have no plans to launch one ourselves," Schwartz said.
In May, Ripple CTO highlighted that both Tether (USDT) and XRP have different use cases. Schwartz also added that an asset pegged to one country's fiat through a central party can barely be universal.
"But XRP has volatility that makes it harder to use in many use cases," he added.
The stablecoins became especially popular after Tether, the leading issuer of stablecoins by market cap, presented ERC20-based USDT assets.
At press time, USDT's market cap is exceeding $9.2 billion.
Earlier iHodl reported that a member of the Chinese People’s Political Consultative Conference proposed the issue of a national stablecoin backed by basket of fiat currencies.
The basket could include four fiat currencies such as: Chinese Yuan, Japanese Yen, Korean Won and Hong Kong Dollar.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.