Ripple CTO Puzzles XRP Army with Enigmatic X Post: Details

David Schwartz, known as @JoelKatz on the X platform (formerly popular as Twitter), the chief technology officer (CTO) at Ripple has published an enigmatic tweet that prompted an enthusiastic reaction of the XRP community.

The tweet contains just two words, but it has got the XRP army buzzing.

Ripple CTO excites XRP army with his tweet

Schwartz posted just two words: “You AREsterdam.” Many commentators were puzzled, publishing comments as to what prompted the CTO to post that tweet.

However, those who joined the discussion later began writing “I Amsterdam” in response, to show it is clear to them that David Schwartz is currently in the Netherlands' capital, participating in the annual Apex XRPL 2024 developer summit.

As reported by U.Today recently, David Schwartz has published important warnings several times for the XRP army on his X handle. Those posts warned the community against falling for scams that have been spreading on the X platform. In one of them, cyber criminals impersonated the X support team, accusing X users of violating copyright and stealing their personal data by asking them to fill in a form.

The second warning was related to the recent hacker attack suffered by the Loopring protocol.

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Ripple's future stablecoin's name unveiled

During this summit, at one of the key sessions, Ripple chief executive Brad Garlinghouse revealed the name of the company’s future stablecoin, which will be backed by the U.S. dollar. The San Francisco-based blockchain giant intends to launch it under the ticker “RLUSD.”

The goal of building this stablecoin on the XRP Ledger is to provide additional utility and liquidity to the XRPL and also erecting a bridge between traditional finance and the realm of crypto.

For the first time, Garlinghouse announced Ripple’s intention to launch a stablecoin back at the start of April, and he then stated that the company has more than enough expertise, experience and resources to pull off this ambitious task.

The CEO stated that Ripple has “years of experience, regulatory footprint, a strong balance sheet and a network with near global payout coverage,” which offers crypto-powered payments using the XRP token. In the future, he added, XRP and the stablecoin will be used for these purposes together.