March 31, 2023

Ripple users will be able to create their own tokens

Ripple users will be able to create their own tokens

According to Ripple's CTO, the company is developing new features that will allow third-party tokens work on top of the network.

The team is developing a new type of transaction for tokens, which will allow you to bind stable coins to any “external values”.

David Schwartz notes:

Stable coins are an obvious use case. Nevertheless, we can use not only stable coins, but also any digital currencies tied to some external value

The new functionality will allow you to create any assets tied to comparative value on the XRP blockchain.

At the same time, according to Schwartz, the Ripple network mayprovide high liquidity to third-party assets due to its wide infrastructure. David claims the Ripple network will have a 100% liquidity guarantee.

This feature is not new to the crypto community. Stable Tether currencies, for example, work on several blockchains and token platforms - Omni, Ether, Tron and others. In addition, Bitcoin Cash has a separate layer called the SLP-Token ecosystem, which allows you to create your own tokens on top of the BCH blockchain.