The World Bank identifies XRP as a stablecoin

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2024-02-26

The World Bank has classified XRP as a stablecoin for cross-border payments, and this information has recently resurfaced within the cryptocurrency community.

The World Bank categorizes XRP as a stablecoin

Recently, the classification of XRP by the World Bank as a stablecoin has garnered attention within the cryptocurrency community. Accordingly, XRP is seen as a stable asset, capable of providing a quick and efficient solution for cross-border payments compared to traditional banking methods. By categorizing XRP and XLM as stablecoins, the World Bank acknowledges the potential of these cryptocurrencies in providing cross-border payment solutions. This is also a significant step in recognizing the increasingly important role of cryptocurrencies in the global payment system, especially amidst the rapid development of technology and the cryptocurrency market.

Strong community affirmation: XRP will never become a stablecoin

Members of the cryptocurrency community are strongly asserting that XRP will never become a stablecoin. This reaction arose after news of the World Bank's classification of XRP into the stablecoin category. This sparked much debate within the community, with Sean McBride, a former Global Talent Acquisition Director at Ripple, quickly drawing attention to the issue. In this context, there are rumors about Ripple considering issuing its own stablecoin. However, this has raised concerns and controversies within the community, with many believing that XRP becoming a stablecoin does not accurately reflect its essence and potential.

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