Ripple’s RLUSD: A Potential US Synthetic CBDC?

A recent Twitter thread by digital asset analyst and researcher SMQKE proposes that Ripple’s RLUSD stablecoin could serve as a U.S. synthetic central bank digital currency (CBDC). Unlike traditional CBDCs issued directly by central banks, synthetic CBDCs are backed by private entities but fully backed by central bank reserves. This allows stablecoin issuers to offer money resembling sovereign currency without the central bank handling it. 🤔