Renowned lawyer and prominent figure in the digital asset space, Bill Morgan, recently expressed skepticism towards Ripple CEO Brad Garlinghouse's revelation about the upcoming launch of the company's stablecoin.

In a public statement, Morgan questioned the necessity of merging the stablecoin with XRP for cryptocurrency-enabled payments, as he previously viewed XRP as a sufficient payment bridge on its own. He raised inquiries about how the two would work together or why their combined usage was deemed essential.

Moreover, Ripple's announcement of introducing a USD-backed stablecoin pegged 1:1 to the USD, to be operated on the XRP Ledger and Ethereum, has generated mixed reactions within the crypto community. This decision was influenced by the thriving stablecoin market, currently valued at approximately $150 billion and projected to surpass $2.8 trillion by 2028.

The ongoing discussion and debate surrounding Ripple's stablecoin initiative indicate division and differing opinions within the crypto sphere.