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Industry leaders Ivan Soto-Wright, CEO of MoonPay, and Nancy Beaton of Uphold highlight stablecoins as a transformative “killer use case” for the crypto industry.
His comments come in the wake of the announcement of a partnership by Ripple and MoonPay in which both highlighted the potential of stablecoins to modernize payment systems and unlock greater financial access.
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Soto-Wright believes that the Ripple stablecoin (RLUSD) and its value proposition are the building block from which they can generate inclusive and competitive financial ecosystems. With the token, these global users will be able to deposit USD directly into their accounts and transact seamlessly from supported wallets and marketplaces. “The job won't be done until the user experience with cryptocurrencies is better than their bank's,” he said, calling the stablecoin the best use case cryptocurrencies can offer.
Ripple announced its USD-pegged digital asset on XRP Ledger, RLUSD stablecoin, on December 17, which will now be available via lunar payment. This crypto exchange specializes in fiat-to-crypto on- and off-ramps. The partnership seeks to strengthen the use of stablecoins while providing users with the convenience of depositing traditional USD and using RLUSD directly in supported wallets and exchanges.
Nancy Beaton Defenda digital wallet and exchange platform, promoted the accessibility and regulatory disclosure of stablecoins like RLUSD. “Stablecoins are the best use case for cryptocurrencies right now,” he said, pointing to the 24/7 profitability, speed and settlement facilities that stablecoins bring. RLUSD will also be available on the Uphold platform, Beaton said.
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RLUSD, now integrated with MoonPay and Uphold, exemplifies how stablecoins are becoming indispensable in modern financial ecosystems.
Stablecoins are the next big thing:
Stablecoins are a “great use case” for cryptocurrencies because they solve one of the biggest problems in the financial ecosystem: volatility. Their value, often pegged to stable assets like the U.S. dollar or Treasury bonds, makes them especially useful for practical activities like everyday payments, savings, and even loans. Once limited to serving as digital cash equivalents for cryptocurrency traders, stablecoins have evolved into a flexible financial instrument used for everything from cross-border payments, an efficient alternative to traditional remittance services. , to instant and low-cost transactions.
As previously reported by crypto.news, Stablecoins have proven their scalability with record activity, such as $5.5 trillion worth of liquidation in the first quarter of 2024 alone. Bringing the transparency and efficiency of blockchain technology to the stability of traditional currencies could reinforce the dominance of the US dollar. and reshape the global financial system.
