Ripple to Launch a New USD-Pegged Stablecoin: What You Need to Know

Thursday, 4 April 2024, 15:26

Ripple ventures into the stablecoin market with an upcoming USD-pegged offering backed by US dollar deposits and treasuries. Amid rapid sector growth, Ripple aims to provide enhanced security, stability, and transparency. The move comes as Ripple faces legal challenges, positioning its stablecoin to bridge traditional finance with crypto, challenging existing players like USDT and USDC.
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Ripple to Launch a New USD-Pegged Stablecoin: What You Need to Know

Ripple to Launch a Stablecoin

Ripple, the company behind XRP Ledger, is entering the stablecoin market with a new USD-pegged token focused on security and stability.

Key Points:

  • The stablecoin will be 100% backed by US dollar deposits and short-term treasuries.
  • Ripple plans to launch the stablecoin later this year.
  • Monthly audits by a reputable firm will ensure transparency and trust.

Ripple's entry signifies a potential shift in the stablecoin landscape, aiming to cater to enterprise and banking customers while facing competition from established stablecoins like USDT and USDC.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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