- Elon Musk celebrates SpaceX milestone with 300th Falcon 9 landing on X.
- Ripple announces plans for USD-backed stablecoin amid growing demand and regulatory support in Dubai.
- Ripple’s managing director predicts the stablecoin market to reach $2.8-$3 trillion by 2028.
One of the technologists in today’s world Elon Musk, who runs SpaceX, Tesla, xAI, and several other creative intelligent technology businesses has created an X post to commemorate the achievement of his business entity.
Musk is proud of the 300th landing of Falcon 9 on X The Falcon 9 is a reusable rocket by SpaceX, designed to carry people and cargo to Earth orbit and other celestial bodies.
As mentioned on the official website of SpaceX, Falcon 9 had been launched 343 times, landed 300 times, and, overall, was used 274 times in a re-flight manner. A week ago, Musk shared an important development on X that the Falcon 9 had successful at fourteen successful launches in May.
The cryptocurrency community, especially the one supporting Ripple and the Doge currency, embraced this news. A lot of responses to Musk’s ‘300’ x posted a comment with ‘420,’ because 420 is the number dear to Elon Musk as it stands for his favorite cryptocurrency, Dogecoin, as well as marijuana. April 20 (4.20, 420) is considered his second day.
Many accounts also responded with memes from the movie “300” about Spartans starring Gerald Butler. It has become very popular, and his episode of ‘This is Sparta’ is something people have probably heard of.
Cue the creation of SpaceX where Elon aspires to reduce the cost of traveling to Mars and establish a human settlement on this planet to increase humanity’s chances of survival. During a recent interview, Musk added that humans may land on the Red Planet within the next seven or eight years.
On the other hand, Ripple decided to introduce a stablecoin backed by USD, given the increasing demand for and the prospects of such digital currency. Ripple has suggested that because it is a seasoned company that has already developed good relations with some of the largest financial institutions in the world, it would be well-positioned to launch a stablecoin that would be trusted by the market.
The most important advantage of introducing Ripple in the region is that the law governing the use of blockchain technology in Dubai is progressive hence suitable for the issuance of the stable coin.
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Recently in an interview, Ripple’s managing director for Middle East and Africa Reece Merrick expressed his belief regarding the new stablecoin that Ripple is planning to release shortly. To the USD stablecoin scheme’s benefit, he invoked the presence of USDT and USDC, which are already backed with USD.
Merrick also explained that the regulation in Dubai would be more liberal, which is an influence that caused Ripple to further expand in the region. He further referred to the rules that Dubai has put in place as progressive and stated that Ripple can leverage those rules to expand its operations within the Middle East and Africa region.
Self-mining is another notable concept, while Merrick pointed out that the market for stablecoins currently stands at $150 billion, which will grow to $2.8-$3 trillion by 2028. While discussing the proposed Ripple’s USD-backed stablecoins appeared to be its need, he stressed the necessity of compliant and regulated businesses in the industry.
In the ever-evolving crypto industry, XRP and DOGE remain dynamic players, influenced by technological advancements and visionary leaders like Elon Musk. While XRP ventures into stablecoin territory, backed by USD and supported by progressive regulations in Dubai, DOGE continues to ride the waves of social media enthusiasm. The future holds promise for both, as innovation and adoption propel them toward greater heights in the digital currency landscape.
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