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Welcome back to the show everybody History is being made today Ripple just Announced that they're launching a Stable Coin yeah get some somebody roll that Beautiful [Music] [Applause] Intro digital perspectives with Brad KES Come on [Applause] In welcome back yeah you know where it's From welcome back cter that's where it's From but you know what we got breaking News today ladies and gentlemen Ripple Just announced that they're going to Launch their own stable coin we're going To get into that we're going to get into All of it hang in there there's so much To talk about today well does that mean That Ripple's a bank remember Monica Long is the president of Ripple a lot of Banks have presidents you know how does This how do we interpret this are they Becoming the Federal Reserve 2.0 look we got like I said we got a lot To talk about right now $2.65 trillion Market cap for crypto the markets up 1.3 66,800 Plus for Bitcoin 3,300 Plus for Ethereum 106.4 billion market cap for Tether xrp's at the number seven spot at 60 cents we're up 4.7 on the 24hour but Look at this the news just dropped Minutes ago we're up
5.9% in the last hour so even though We're off by 1.9 on the 7 day this may Be a very interesting day for xrp now Jumping to 61 cents right now you can See the market is moving on this news Look at everything moving here ladies And gentlemen this could be a breakout Day for us it maybe it isn't but I tell You what I think this is extremely good News we are going to get into this but Let me tell you something soon as I saw That article drop this morning yes That's right big daddy went and got Hisself some Ripple this morning come on In you damn right I did and you can get It too but I'm going to tell you Something you know news like this today Is going to send this crazy I bet they Could sell out a ripple on link to today If you're not careful okay again I don't Know whether this means Ripple's Becoming a bank or whether Ripple's Going to end up becoming the Federal Reserve 2.0 which I have believed for a Long time but I'll tell you this what we Do know is what happened when tether Gets printed for Bitcoin it goes up it Was the on and off ramp to Bitcoin in The early days how could people buy it Right then what happened when they Launched erc20 usdc tokens on the Ethereum Network Boom now it is time Ripple is launching
A stable coin on The xrp Ledger oh my Goodness Gracious all right look we got a lot to Go over but let me just quickly move Through this first of All let me tell you something this is Why I've been telling you that this Truly is one of the most important Conferences you could ever attend in Your life because of the moment that We're currently in and I know that if You're hearing my voice you get it That's not hype that's not a sales pitch That's the truth and I hope that your Life is in a position that you can come Be at this conference because we going To hear from everybody from Congressman Wy nickel who is a House of Representative moderate Democrat and a Crypto Advocate the legal crew in this Community that is Bar None Unbelievable and all the incredible Sponsors like Ripple uphold I trust Ballet.com piarist you name it they're Here they're coming this is amazing Ladies and gentlemen and let me tell you Something you know this is the kind of Stuff that look you David Schwarz is Going to be on stage you don't think David Schwarz is going to have Information he could share with you About launching a stable coin and what We could learn on that day please get Your ticket please get your ticket oh my
Goodness gracious Brad garlinghouse said If you want to impact the most people And really put a dent in the universe How do we reach 99% not 1% and then he Talks about connecting the repositories Just like I've played for you before This isn't about really trying to make Money off the speculative side of retail This is about connecting major Institutions in governments and that's What they've been doing and you know That there's proof of it because this is When we heard the announcement James Wallace uh Ripple was selected by the Country Georgia for their cbdc pilot Project hugely exciting then this came Out just yesterday shout out to Michael Bran for this one give him a follow Central banks unite for tokenization to Revamp the money system the Central Bank Of central banks to B S they go into project Agora unites Seven central banks for digital Money Makeover Agora smart contracts aim to Slash global payment costs tokenization Project to streamline kyc AML boosting Efficiency it does not go into what Network or Protocols are being used or Not but we know they said smart Contracts so we have to wonder is Ethereum involved in that particular Part of the the transaction there we Don't know is xrp ledger involved we Don't know but we do know is that
Mbridge and I've played it for you Before uh mbridge is certainly uh one of The Pilots That's being tested by the Bis and xrp Ledger is certainly one of Those models of mbridge if not the model Of embridge so you have to wonder how Closely connected are mbridge and Project Agora I don't know but you know This is pretty remarkable listen to this As a refresher from James Wallace at Ripple right it is is we're using the Same technology that it's with The xrp Ledger what would the token would be the Cbdc right so the central bank would Actually create their own token digital Euro digital dollar whatever the mar the Market is um and that becomes the Digital asset as so that becomes the Digital asset keep listening the native Coin the native coin yeah now where Where xrp could come into play Potentially is when you're looking at Crossborder cbdcs so when you have a Digital dollar and you have a digital You know real you know or digital Digital pound you you obviously need to Have some some way to interact cross Border so I think bis call this a multi Cbdc model um the one of the ideas is You use a sort of a neutral Bridge Currency to go from one to the other Similar to the model I explained earlier Where at with our on demand liquidity um But the you but the core offering really
Is is not XR there's no xrp involved It's it's the native token is the cbdc And what is a stable coin a privately Issued digital dollar right that's what It is this is super super exciting Ladies and gentlemen now let me let me Just get to it here because we got the Article all right here it is uh coind Des drops it Ripple plans to release a Stable coin Peg to the US dollar oh th This is amazing ladies and gentlemen Prepare for phase one of mass adoption Liquidity liquidity liquidity liquidity The water that grows a network ladies And gentlemen that's what we're talking About here this is massive news let's Get into this right now Ripple developer Behind The xrp Ledger we're talking About David Schwarz ladies and gentlemen Stablecoin Fray versus tether and Usdc Oh the token will be 100% backed by US Dollar deposit short-term government Treasuries and other cash equivalence According to the company we're going to Have to read all of this because it's so Important and I've got something for you After Ripple the Enterprise Focus Blockchain service and creator of xrp Ledger is introducing its own stable Coin Peg to the price of the US dollar The stable coin Market is over 150 Billion today and is forecasted to Exceed 2.8 trillion by just
2028 Ripple said in the statement shared With coindesk there's clear demand for Stable coins that deliver trust Stability and utility the company said The token which it plans to release Later this year will be 100% backed by US dollar deposit short-term US Government treasuries and other cash Equivalents the stable coin will be Deployed onto Ripple's institution Focused xrp Ledger along with the Ethereum blockchain to start out Remember pieres has a bridge between the Evm and xrp Ledger as Well and with the onset of ethereum Having its recent troubles you think There's going to be any Mass Exodus to Want to come to The xrp Ledger [Music] Now Ripple's announcement comes as Stable coins have proven one of the most Popular types of digital assets among Crypto Traders free in theory from the Price volatility witnessed in large Cryptocurrencies like Bitcoin and Ethereum's ether now we know what a Stable coin is we don't have to go Through all of that but here we go uh as For why Ripple still battling an Enforcement case brought by the US Securities Exchange Commission has Decided to jump into the stable coin Game Schwarz said that the decision in Part came down to simple dollars and
Cents part of it is just op opport Opportunistic and it's a growing Market He said you could be a bank that pays no Interest There it is how many times have we got I Got the thumbnails in the video catalog Ripple becoming a Bank what did he just say you could be The bank that pays no Interest that seems like a pretty good Business opportunity damn right it does David Schwarz said that the new stable Coin could also help breed some Life In The xrp Ledger decentralized Finance Ecos system absolutely which is Decentralized exchange but relatively Low usage relative to other chains According to Schwarz transparency Historically a key point of scrutiny for Stable coin issuers and that will be a Key Focus for ripple as it rolls out its New token we're going to have public Audits on a monthly basis hopefully by Top tier accounting firm and we'll Disclose more on that later uh we're Aiming for a complete transparency you Know we'll do whatever we need to to Address those issues beyond the promise Of transparency Schwarz emphasized the Potential growth of the stable coin Market currently dominated by USD Tethers token and circles Usdc serves as a dis disincentive for Ripple for any other stable coin
Provider to act dishonestly coinbase a Publicly traded us company exchange is An investor in circle in the early days Of tether people were expecting it to Blow up any day and they felt like there Was a really it was really sketchy said Schwarz but now if you're tether it Would make sense for you to run off with People it wouldn't make sense for you to Run off with people's money said Schwarz Even if it was your plan you'd wait to Do it because the market is only growing In Ripple's case we're not trying to Squeeze out extra pennies uh out we Don't need to he says uh our ballot Sheet is Rock Solid the CTO said his Token will be aimed to uh primarily at Enterprise customers and banking Institutions this means they have Liquidity to get on and off the network There's your ramp right There those kind of practical arguments Aren't really present uh because they Have to justify their decision to Stockholders and regulators and so on to Satisfy the needs of this Market segment Ripple says it's using US Banks to hold Its reserves and is taking what is terms A compliance first mindset usdc is Currently uh the market leader among Compliance oriented stable coin Consumers but Schwarz said he doesn't See it as a win or takes all environment And I think he's got that right he says
If we're solid number three in the Market gross 12x that's not a failure Scenario obviously we'd like to do Better than that but that's not a Failure case that's a pretty gosh Dar Good one yeah you better believe it Go David look this is exciting uh you know Did Ripple just signal they're becoming Not just a bank but Federal Reserve 2.0 Because I think that's where we're going Here and you guys know I think That don't forget that Ripple's already Partnered with uphold and they're Already connected with fed now Ripple Payments I'm a ripple payments customer And have been directed here to open an Account well pretty soon you'll be able To use that that stable coin and we'll Have to see if it's listed on uphold one Of their Partners but here's the bigger Point I want to get to today it's never Been a coincidence at my house why so Many people from the United States Treasury have served at Ripple either in The capacity of a board member or some Kind of advisory role Susan fredman head Of Ripple policy over in the UK there Came from from the Treasury then we Have Craig Phillips former Treasury Department counselor joins Ripple board Of Directors US Treasury because you got to Make sure it's done right Michael sbar
Former Ripple Advisor now he came from the treasury Architected The Dodd Frank act and put Together the financial stability Oversight Council you hear me talk about So much and now he's the vice president Of the Federal Reserve Board of Governors and he's architecting stable Coin legislation for which Ripple just Announced they're taking part in Today still think it's a mistake this is Why I call the treasury officials like Rosie Rios the 43rd treasurer of the United States Treasury her names on more Money floating around the Earth today Than any other human ever in Life that's why I refer to the treasury Officials coming to coming through the Camp of Ripple as a transition Team because this is as big as we say it Is otherwise what in the hell are they Doing there they're making sure it's Done Right because this is going to be a Value protocol that is going to serve The world for hundreds and hundreds of Years Ripple is the HTTP of Payments and they just brought on a Stable coin anoun announcement that They're going to launch a stable coin to Create and help facilitate all of those Payments whether we're talking about Settling derivatives or just a regular
Old uh uh uh transaction that you're Sending money across to family members Back Home that's what we're talking About and I find it really really Bullish that with the case still Unresolved in its final Stage feels confident Enough to announce that they're going to Launch their own stable coin to the World while this case is still ongoing And that's why I have said this case is An audit and vit process just as much as It's a legality issue I could tell you That and the announcement of this news Today proves that to me that this has Always been what I've believed it to be And today for me and it's not Financial Advice I just got more validation that That we're dancing all over the top at His Target I could tell you That oh I'm super excited I hope you Guys are too this is going to bring so Much liquidity to the network just like We have seen in other networks look at The Bitcoin Network and tether Relationship look at the usdc and Ethereum network and now we got a a a Coin that's going to be available on Ethereum and The xrp Ledger yeah I am super excited and I Hope you are too look uh that's going to To do it for me I hope you will join us In the freedom Zone not Financial advice
Of me or anyone else but we're going to Talk about that Eclipse that's coming up In 4 days and I think you might want to Know about what's going on in here I Hope you'll join us at dig perspectives. Comom you could join the freedom zone For almost next to nothing help support The channel and get some great extra Content and all of the daily videos with No Google ads I hope to see you inside We're getting started right now come on In all right
