🔥 Ripple Sets to Launch Dollar-Stablecoin
posted 4 Apr 2024
Ripple (XRP) has disclosed plans for launching its own stablecoin, which will be pegged to the dollar and backed by bank deposits along with short-term U.S. Treasury bills. This move aims to expand Ripple Payments' capabilities in facilitating cross-border transactions. The introduction of this stablecoin promises:
- Access at the corporate level;
- Compliance within the U.S. and other regulatory frameworks globally;
- Transparency in asset backing.
Institutions entering this space are finding success by partnering with compliant, crypto-native players, and Ripple’s track record and resiliency speak for itself,Ripple’s CEO Brad Garlinghouse commented.
Initially, the stablecoin will be integrated into the XRP Ledger and Ethereum, with intentions to broaden its accessibility across further networks to facilitate user convenience. Further project details will be disclosed in due course.
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