Ripple Stablecoins Executive Says XRP Underpins RLUSD Activity on XRPL

According to Ripple’s senior vice president of stablecoins, RLUSD transactions on the XRP Ledger (XRPL, Ripple’s blockchain network) require XRP in the background to support network operations.

XRP
RLUSD

Summary

Ripple’s senior vice president of stablecoins said XRP and RLUSD are complementary rather than competing assets. The executive stated that any activity involving RLUSD on the XRP Ledger (XRPL, Ripple’s blockchain network) requires XRP in the background, describing the native token as the "grease and the wheels" of operations. The comment highlights XRP’s role as the network asset used to support on-chain activity, while RLUSD functions as Ripple’s stablecoin product.

Terms & Concepts
  • Stablecoin: A cryptocurrency designed to maintain a stable value, typically by being pegged to a fiat currency such as the U.S. dollar.
  • XRP Ledger: A blockchain network associated with XRP that processes transactions and supports token activity on-chain.
  • Native asset: The main token of a blockchain network, typically used for transaction-related functions and core network operations.