XRP Ledger integrates Stasis Euro stablecoin
Euro Stasis chose XRPL of its scalability speed and cheap transaction costs.
Ripple (XRP) ledger (XRPL) will now support NFT after the community passed the XLS-20 proposal on Oct 31.
Developers can create NFT on the blockchain network without affecting its network security or efficiency.
Ripple CEO Brad Garlingouse and CTO David Schwartz described the event as a milestone for the ecosystem.
Tokenization is not new to the XRPL, but this presents a key milestone for developers and creators to tokenize any asset and build innovative Web3 projects with utility. The new standard introduces native NFTs on the XRP Ledger to represent unique assets along with efficient, secure operations to enumerate, transfer and hold such tokens.
The XLS-20 proposal has been in the works for a while and was initially delayed due to a bug in the code Ripple expressed the NFT development standards for XRPL about a year ago and committed over $250 million to fund the project.
in a separate development, the Euro-pegged stablecoin Stasis Euro has been integrated into Ripple XRP Ledger.
Statis CEO Gregory Klimov expressed the move would help grow the adoption of EURS he said:
“It will solidify our asset for the next cycle of stablecoin market adoption. Our ongoing partnership will focus on exploring the newly-emerged opportunities of XRP to enable a better financial inclusion as well as stablecoin infrastructure and services…”
Furthermore, these development are yet to positively react to XRPs price performance the crypto asset is down 1% in the last week.