Stablecoins Evolving into Backbone of Global Finance, Says Ripple Executive
Stablecoins are evolving from tools for traders to essential components of global finance, according to Jack McDonald, senior vice president of stablecoins at Ripple, at Consensus 2025 in Toronto. Key points include:
- Stablecoins offer a frictionless, cost-effective alternative for U.S. dollar payments.
- Ripple's RLUSD is part of an initiative to modernize cross-border payment systems.
- Kraken's Mark Greenberg highlighted the inefficiencies of current financial systems and sees stablecoins as a solution.
- Both executives anticipate yield-bearing stablecoins will become significant but face regulatory challenges.
- McDonald noted Ripple's acquisition of Hidden Road aims to enable stablecoins as collateral in capital markets.
- Greenberg predicts stablecoins will become so integrated into finance that they will no longer be discussed separately.