Ripple Says Stablecoins Could be Created on XRP Ledger

Blockchain-based financial services network RippleNet provides a safe, convenient, and easy-to-use wallet for holders of the cryptocurrency XRP, and the features to their system's ledger may be expanding.

The system's users have long had the ability to perform transactions on a decentralized ledger.

Soon they may be able to take advantage of a feature on the network which would allow them to mint asset-backed tokens like stablecoins on the XRP ledger.

According to a video released by Ripple last month, Chief Technology Officer David Schwartz said he was working on adding new features to the company's crypto ledger.

One feature Ripple may be unveiling would allow third parties to launch other third-party cryptocurrencies on the XRP system.

"One of the features that I think is very exciting is a feature that would allow people to launch - well, stablecoins are the obvious use case, but it's not just stablecoins - it's essentially assets pegged to some external value."

Other blockchain-based networks have been able to let their users run stablecoins.

Schwartz teased the Ripple feature as particularly interesting, because "The liquidity is guaranteed by the ledger mechanics."

With business picking up, Ripple has invested heavily in other transmission networks like MoneyGram.

Focusing on developing this feature, rather than others, may break even more new ground.