Introduction
Edge Wallet has expanded its functionality to support stablecoins on the XRP Ledger (XRPL), including popular options like Stably USD. This update allows users to securely receive, store, and send XRPL-based stablecoins directly within the Edge app.
For those new to cryptocurrency, we'll cover:
- The fundamentals of XRPL and XRP
- What stablecoins are and how they work
- Step-by-step guidance for enabling and acquiring these assets
Understanding XRP, XRPL, and Stablecoins
XRP: The Native Digital Asset
XRP serves as the native cryptocurrency of the XRP Ledger, designed to facilitate fast, cost-effective digital payments. Key features include:
- Transaction settlements in 3-5 seconds
- Extremely low fees (fractions of a penny)
- Environmental efficiency compared to proof-of-work blockchains
👉 Discover how XRP wallets work
XRP Ledger (XRPL): The Decentralized Network
The XRPL is a public, permissionless blockchain with:
- Decentralized validation through a global network
- Built-in decentralized exchange (DEX) functionality
- Robust smart contract capabilities
XRPL Stablecoins: Fiat-Pegged Assets
Stablecoins on XRPL are:
- Pegged 1:1 to fiat currencies like USD or EUR
- Issued by regulated entities with proper reserves
- Ideal for payments and value storage without crypto volatility
Why XRPL Excels for Stablecoins
The XRP Ledger offers distinct advantages for stablecoin usage:
| Feature | Benefit |
|---|---|
| Ultra-low fees | $0.00001 average transaction cost |
| Rapid settlement | 3-5 second transaction finality |
| DEX integration | Instant trading between assets |
| Proven security | 10+ years of operational history |
XRPL Decentralization Explained
Common misconceptions clarified:
- Not owned by Ripple: XRPL operates independently with 150+ validators worldwide
- Consensus-based governance: Requires 80% validator agreement for changes
- Open development: Multiple entities contribute to the ledger's evolution
Stablecoin Types and Mechanisms
1. Fiat-Backed Stablecoins (Like Stably USD)
- Direct USD reserves held in insured accounts
- Regular audits for transparency
- Most common type on XRPL
2. Crypto-Collateralized Stablecoins
- Backed by cryptocurrency reserves
- Often overcollateralized for price stability
3. Algorithmic Stablecoins
- Supply adjustments via smart contracts
- Higher complexity and risk profile
👉 Learn about stablecoin innovations
Spotlight: Stably USD (USDS) on XRPL
Key Features:
- Fully regulated U.S. dollar backing
- Issued by Washington-based Stably Inc.
- Multi-chain availability (including XRPL and Ethereum)
Important Notes:
- Always verify issuer credentials
- Understand redemption policies
- Monitor regulatory developments
How to Add XRP and XRPL Stablecoins in Edge Wallet
Step-by-Step Guide:
Create XRP Wallet
- Tap "Add Wallet" in Edge
- Select XRP from asset list
- Note: 10 XRP reserve requirement (network rule)
Enable Stablecoins
- Open XRP wallet → Settings → "Add/Edit Tokens"
- Toggle desired stablecoins (USD.bs, USD.st, etc.)
Activate Tokens
- Select token → Pay small XRP activation fee
- Confirm transaction (takes seconds)
Funding Options
- Deposit existing XRP
- Exchange other crypto for XRP
- Purchase XRP directly with card
FAQ: XRPL Stablecoins on Edge
Q: Why do I need XRP to use stablecoins?
A: XRP pays transaction fees and activates tokens - this is an XRPL network requirement, not an Edge policy.
Q: How can I get my first XRP?
A: Three easy methods:
- Exchange other crypto in Edge
- Buy directly with credit/debit card
- Receive from another wallet
Q: When will Edge support XRPL DEX trading?
A: The team is working on integration - subscribe to Edge updates for release announcements.
Q: Are stablecoin transactions reversible?
A: Like all blockchain transactions, they're irreversible once confirmed. Always verify recipient details.
Q: What's the minimum stablecoin amount I can send?
A: Depends on the specific stablecoin, but typically very small amounts (cents worth) are possible due to low fees.
Future Developments
Edge continues to enhance its XRPL support with upcoming features:
- Direct stablecoin swapping via XRPL DEX
- Expanded stablecoin options
- Enhanced transaction monitoring tools
For assistance, contact Edge Support at [email protected]. Always practice safe crypto habits:
- Double-check wallet addresses
- Start with small test transactions
- Keep software updated