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Hello this is Matt on the moon Lambo Channel undoubtedly by now the vast Majority of you have already heard the Big news of yesterday morning which is That Ripple is launching their own Stable coin on The xrp Ledger as well as The ethereum blockchain this is resulted In a ton of discussion within the xrp Community and Beyond about what this Means uh what does this mean Specifically for xrp is xrp now useless Uh that that is absolutely what a ton of People are asserting in the xrp Community and outside of the xrp Community but is it true why why does Why does Ripple need to launch a stable Coin well I mean gosh darn it xrp is Supposed to be the best thing since Sliced bread why would we ever need Another Coin well I want to talk about That because people are actually under The false assumption that uh this Somehow negates the purpose of xrp uh Certainly including how Ripple is using It and it just makes me wonder how many People never understood the purpose or Abilities of xrp in the first place Because it absolutely does nothing not One little thing to make xrp less useful It's a bogus narrative and I'm going to Rip it to shreds but before going Further I do want to be clear I do not Have a financial background of any kind
I am not offering Financial advice and You definitely should not buy or sell Anything because of anything I sare Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun all right so last night I Shared the following post on social Media platform X after coming across Throughout the entire day non-stop posts As I'm scrolling through my feed just Trying to have a happy nice time I'm Trying to have a good day and then There's a bunch of people screaming About how xrp is useless and Ripple's Giving up on xrp and they're going to Try doing the new thing with the stable Coin because reasons you know I didn't See a whole lot of con coherent thoughts On whatever the hell that meant but There was a lot of fear out there and so I shared the following post because mind You I've been in the space I've been Holding xrp for over six years there Have been I don't even know how many Things touted as the xrp killer this Makes xrp obsolete I've heard that so Many times this is no different except For in that it's even more ridiculous This is the most ridicul instance of Saying that xrp is obsolete or this is The xrp killer however you want to word It this is the most ridiculous example Of it that I've ever seen in my six plus
Years in crypto and so here's what I Wrote let me get this straight dot dot Dot I added for dramatic effect tether Failed as an xrp killer usdc failed as An xrp killer Libra failed as an xrp Killer and I'll just pause to say here Libra in case youall forgot uh that was The Facebook coin that never even Launched it was initially called Libra And then it was re renamed something Else started with the letter D I think I Can't remember um it never happened so That was supposed to be the xrp killer Oh my god well moving money around the Planet using the Facebook coin what do You the next I pay for shut up never Made any damn sense as I'll get into it Uh and then I wrote JPM coin JP Morgan Coin failed as an xrp kill killer yet People today are screaming that Ripple's New stable coin makes xrp useless in Other words Ripple's own stable coin is The new xrp Killer I can't folks when I was right I Could have like I used the face pal Emoji I was laughing a bit I was Definitely laughing a bit so Ripple is The xrp killer you see how absur this Stupid ass stuff anyway so I wrote I Can't Take You people Seriously as if Ripple would do anything To actively harm or destroy xrp Ecosystem when they literally have the Most to lose by doing so why is Ripple
Launching a stable coin then well I Recommend you learn why a decentralized Cryptocurrency with no counterparty risk Is ideal for different use cases than a Stable coin with a central Authority and So folks there's a lot of things that Can be said here I'll start by Mentioning look Ripple to be clear is Seeking not just to be a fintech Company you know there seeking to Dominate all things crypto that's why They bought Medico last year jumping Into self- custody that's why they're Launching a stable coin their own stable Coin now they're trying to Corner every Aspect of the crypto markets broadly Speaking that they possibly can that's What they're in fact if you ask Brad Garlinghouse what Ripple is what does That company do he doesn't start by Talking about remittances or uh anything Having to do with Legacy Finance He He'll say something along the lines of Ripple is a a crypto Solutions company For Enterprise uh Enterprise just Broadly speaking it'd be something more Eloquent than that but that's the that Would be the cut of his jib that's the Message he would convey and then at some Point a few sentences or paragraphs Later he'd mentioned oh yeah we're doing Remittances to because they're they're They have enough funding and they've Grown up they can they can absolutely
Delve into other stuff and that's why They're doing these strategic buyouts so That's that's a huge part of the reason This has nothing to do with xrp failing But let talk about xrp the way that Ripple is using this because I think What a lot of people's fear fears Actually are is that well if xrp was so Great and it's being positioned as a Bridge currency why does Ripple need to Have a stable coin because xrp is the Bridge currency thing right well think Think this through a little bit further Okay no one on the planet is positioning Any stable coin as a bridge currency for Legacy Finance no one period Ripple is Positioning a coin as a bridge currency And that is xrp that's that is the coin That that they're they're positioning That form now why aren't other companies And other firms out there that are in Control of various stable coins why Aren't they doing that uh I'm I'm not so Sure that they'd have a fun time doing Like first of all they're not even Trying to do that so there is no actual Competitor to this there for this Particular use case this Niche there Literally isn't only Ripple is doing What Ripple is doing period and only Extrap is being used for this period so Let me flesh this out a little bit Further because if a company wanted to
Come in and compete for the exact same Thing that Ripple is doing they need to Have a business plan they need to hire a Salesforce they need to have customer Service they need be be onboarding Financial firms including Banks and Convincing them to use the stable coin And then of course that has to be held Somewhere so then there's the Counterparty risk of that because it's An issued Asset so then you have to have noo Accounts that that's backed by and You're recreating the same friction from Legacy finance that we already have just In a new digital form so it already Doesn't make sense obviously it doesn't Make a damn bit of Sense I Mean you know Banks you know Banks Remove counterparty Risk by using ond Demand liquidity instead of holding Garbage Fiat currencies such as the Argentine peso which in pretty much over A decade now I guess at this point has Been in experiencing what is just Extreme inflation so if you're a bank do You do you want to have noo accounts the World over like just Reinventing the Wheel like you're not even reinen it's Just it's a copy of it it just doesn't Make sense and so again no one is Positioning any stable coin here as a Bridge currency uh for for legacy
Finance and the only coin that's that's Being positioned for as a bridge Currency Is is xrp by Ripple and here's another Key Point like understand that when We're talking about xrp as a bridge Currency because like you going to get Pushed back like this all the time well But the stable coin could just do it and You know my response to that is the way That many of the people are articulating A transaction with a car okay yeah and Bitcoin could do it and eth could do it And Doge could do it and harar could do It uh pick a coin you can use whatever You want to move value around the planet Already on boarded into the world of Crypto but what what is Ripple doing They're using xrp in the background That's why I said a couple minutes ago They're the only ones doing what they're Doing and that's literally true they're They're they if you are a Nory out there And you're not in the world of crypto And you want to move from one fiat Currency into another fiat currency in Another geographic location on the other Side of the planet you might use a money Gram or you know pick your firm pick Your remittance firm it doesn't matter You're paying them for that service now Xrp can be used to reduce the number of Hops in between destinations right That's that's the whole that's the whole
Point to this the because the vast Majority of people on the planet are not In crypto only like four four or 5% of Humans have ever bought any crypto at Any point in time so for the normies What they can experience assuming this Continues to work right is they'd have Lower costs and faster transactions not Knowing that xrp is being used in the Plumbing now if we're talking about the Small percentage of humans that are in Crypto like you and I well if you've got A friend on the other side of the planet And your friend is also in crypto what You might do is you could just send xrp Yourself from your exchange to their Exchange and they can just cash out you Don't even need the remittance companies Duh I've been talking about this for Years this is for the people who are not In that situation which is almost every Human on the planet this is for the Normies out there all right And so nobody is positioning any coin Stable coin or otherwise to do That period it doesn't exist Ripple's The only one doing that and then if you Want to try doing that well good luck Good luck especially if you're going to Start trying to do something like that Right now so yeah you can use anything You want you could but see but see if You say well why can't you just use a Stable coin if you're in the world of
Crypto well then if you want to then go Ahead but why not use xrp it's very Liquid it's it's all over the damn Planet it's already established it's one Of the first movers in the world of Crypto one of the first ever to exist so It's got a huge leg up on any other Coins out there it works great for Payments it's almost free for Transactions it's it's reached Network Effect so yeah so then as more people Are onboarded into crypto the question Is is it desirable to have a coin like Xrp that's just really good at payments The answer is yes and that hasn't Changed that hasn't changed at all it's Still true today so to anybody thinking That there're being yet another stable Coin as that changes anything it does Not and frankly even if Ripple failed And there there wasn't and there is but Just be clear there is by all accounts Incredible adoption of xrp as a bridge Currency uh especially considering the Amount of regulatory concerns the world Over this and that uh you know and They're not it's not liquid enough to Handle like you know what you're seeing On a daily basis in Swift it's been it's Pretty impressive to have this in this n Asset class A cryptocurrency like xrp That's reached the success it has and a Bridge currency but even if that use Case failed xrp has reached Network
Effect it is it is valuable and people Are speculating on on to this degree the Fact that it's always been in the top 10 Coins by market cap like doesn't that Show you something we in the world of Crypto recognize that's valuable and We're assuming that the normies out There who will be coming jumping in into Crypto in the coming years and decades They're going to recognize it too Because it's a Fact it's fast it's practically free I Mean come on realtime settlement on The Xrp Ledger in 3 to 5 seconds is that Desirable and it's liquid and it's on All all corners of the planet Already when technology becomes a Standard in human society it is hard to Supplant it xrp has already become a Fixture in the world of crypto there's No indication it's going anywhere it Makes no sense to be afraid of this Whatsoever the fact that there's a Stable Coin So let's go a little bit further though There was um there's this post by xrp Community member Panos and so you might Be wondering wh why what is Ripple's Strategy with this well again I already Articulated part of it which is that Ripple's just trying to get their their Hands on like all things crypto B Basically so like I said self- custody
They're already in that they bought Medico I I think it was in May of last Year with self- custody uh now launching A stable coin okay um but is there Another plan and and I don't know for Sure but there's some reasonable Speculation here from xrp Community Member Panos who I think is one of the More knowledgeable and insightful Individuals out here and so after this News broke here's what Panos had to say Ripple stable coin announcement moves us One step closer to onchain for an Exchange I believe and hope the endgame Is to stay onchain transfer onchain pay Onchain do everything on chain and Enable interoperability among systems There will be no need to off-ramp and Exit to the traditional centralized Banking system anymore okay so that Would be cool I don't know if Ripple's Thinking along those lines that is very Reasonable speculation worthy to have a A healthy discussion about that what if Ripple's ultimate vision for down the Road is you don't need all this stuff What if you could do on demand liquidity Tri type functions without a bunch of Centralized exchanges because the xrp Ledger has a built- and decentralized Exchange and what if what if a stable Coin that's well backat could help make That Possible isn't isn't that would that be
A positive or A Negative now there's this post from xrp Community member Kieran Kelly and he's Been Around man maybe I can't I don't know When I can't remember when he jumped in I'm sure I've seen when he stated he Jumped in publicly I think he's been Here longer than I have so he's been Around a while if not then it was about The same time that I jumped in in 2017 But I think he's been around even longer Than that and um and he was trying to Spur some conversation which is always Good we should always have discussions Especially when people are concerned we Should talk stuff out especially with Complex topics such as this and so Here's a post last night from xrp Community member Kieran Kelly some People are rightly asking as Ripple is Launching a stable coin on The xrp Ledger one: one with United States Dollars what is the point of xrp okay so I'll pause note I I already articulated Huge chunks of that obviously if if your Concern is Ripple's use case with XPS of Bridge currency no longer makes sense That's silly that it's it doesn't make Any Sense why what benefit would Ripple even Have by creating a stable coin and then Plugging that into the place of Xrp what you'd actually do is Ripple
Would be making their lives that much Harder because they still have to get That damn thing listed on all sorts of Partner exchanges uh they have has to be Back so there has to be sufficient Liquidity uh it's just a whole bunch of Nightmares and then again like I already Got to earlier like It's they're they are the counterparty Risk then that's what they've been Preaching against for for the use case Uh of xrp as a bridge currency not that There's there is a place for stable Coins obviously so it's a good thing Ripple's doing this but when you're Talking about in positioning extra piece Of bridge currency no that makes way More sense Obviously anyway Kieran Kelly continues A concern of some is also wouldn't a Bank prefer to use a stable coin versus A volatile cryptocurrency like xrp for Transactions uh well so there are no There are lots of banks right now that Have no stroo accounts the world over They're pre-funded Accounts what's more appealing having Your liquidity tied up in Risky like What if what if you have an account and It holds the Argentine Peso like I was saying earlier that Thing had Runway inflation little bit Risky there right little bit Risky wouldn't it just be better to tap
Into xrp when you need It and if you're talking about if you Say a stable coin would be better and A Bank's just tapping into it well if They're not the ones doing the funding I Don't think they care anyway if if a Bank if they if there's a small bank and They're not big enough to be prefunding Uh I don't think they technically would Would um would care as much but again What company even if that's the case What company is positioning a stable Coin in a product that is equivalent to On Demand liquidity because mind you Again it's not like the company who Whoever were going to do that they'd Have to have the stable coin they have To get a business plan they got to get Sales staff to onboard it they have to Have all sorts of software Engineers Create something equivalent to to Ripple Payment software uh you have to have Customer support all this stuff and then They'd be competing with ripple so the Option doesn't even exist and it's not Going to exist I mean that's a virtual Certainty either this works with xrp as A bridge currency or nothing because It's too tough for anyone else to even Jump in at this point good luck if You're going to try and do that so would A bank prefer that look if they if A Bank's hands off on this stuff an xtrap Just in the middle what the hell do they
Care seriously what do they care the Banks that would care would be the ones That do the Prefunding right anyway and then he says Another question being raised is how Does a stable coin built on the xrp Ledger benefit xrp and possibly increase The price ah yes well I'm glad you asked Uh I just want a note here and this is Really crucial piece of information Right here in order for a stable coin to Exist on The xrp Ledger it requires the Existence and usage of xrp it's coded Into The xrp Ledger itself if if if You're talking about this coin whatever It ends up getting called existing on The xrp Ledger xrp is required That's how it benefits it and then if There's a stable coin on The xrp Ledger That ensures the long-term viability of The chain I was talking about this a Couple videos ago when the news broke I Was talking about how Tron uh almost no Developers on that Blockchain that's an old chain right now Right and um almost no development Activity but it's it's a large cap coin In fact it was recently in the top 10 Recently in the top 10 it was also in The top 10 back back in 2017 and it fell Out but over the last year it started Creeping back up in market cap why Because as it turns out a very broad Stable coin ecosystem was built out and
It ended up growing into the largest Stable coin ecosystem in all of crypto As it turns out the market finds that Valuable and the price of Tron the Native asset Increased so if there's a a ripple Stable coin and it's incredibly Successful and who knows maybe even more Stable coins are added maybe maybe not But say say ripples stable coin is Wildly Successful obviously people speculating On crypto find that highly attractive Which is why a chain that would was Otherwise dead and had basically no Developer activity it got back into the Top 10 it's not a fluke so is this good For the price of xrp you better believe It Absolutely and then he says this would Be a good thread to see what people Think about these points raised Personally I think it's the best thing That's happened for the xrp Ledger and Xrp since its Inception But would like to know other people's Views and to help clear up some people's Concerns yeah and so I've said a buch of My thoughts on this I think this is Going to do nothing um assuming this Really does come to pass and we have to See it actually happen I think this is Going to do nothing but positive things For xrp and the entire xrp Ledger
Ecosystem this is big this is positive This is going to be viewed as a Positive and there was a um somebody Else maybe it was a if I got here oh Yeah yeah to close out with this uh Santiago valz co-founder and R&D Division lead at block digital um he's a Big fan of what happened here he was Talking about this news when the story Broke yesterday and somebody wrote to Him and said this makes xrp token Useless and I just I so many of these These posts and that literally isn't True the most obvious uh quip you could Have when somebody says it is xrp is Literally required for it exist to exist On The xrp Ledger obviously not on the Ethereum blockchain or other chains but On the xrp Ledger which is a primary Focus it absolutely is required du it Doesn't make xrp useless see people that Say that they're just what they're doing Is they're revealing that they do not Know what they're talking about when Anybody that says that they are Revealing to you that they do not know What in the ever loving hell is going on I'm not even sure if they know where They are or what to do with their hands They probably don't know like in the Pocket I don't know cross armed in front I don't know what to do with my hands so Santiago vas responded to this guy and Said not at all with sufficient stable
Coin liquidity across multiple Blockchains it creates demand for the Underlying asset via fees and pools did Usdc usdt negate eth on ethereum no so Thing about that stable coins on eth did That hurt eth no it's good it's a more Vibrant ecosystem same for Tron these Are real world examples you can see Right in front of you and you're afraid That this is going to hurt xrp no don't Be an idiot stick it's the opposite of That this is Fantastic damn it Now I'm sure there's more to be said but I'm going to stop right here you guys Carry on the conversation tell me what You think I got right what I got wrong What I should have said that I left that All that jazz leave it in the comment Section below I would love to hear from You I'm not a financial adviser you Should not Buy Herself s anything Because of anything I say or right that Would be a very very very bad idea until Next time to the Moon Lambo
