Ripple announced that it will develop a new crypto asset indexed to the dollar. The stable coin will operate with a 1 to 1 reserve system. The new crypto asset will first be available in the United States.
One of the most established teams in the cryptocurrency markets RippleA very important step came from. The company announced that it will produce a stable coin. The stable coin, which will appear as a dollar-indexed crypto asset, will first be used in the USA. The company will create a reserve of 1 dollar for every 1 stable coin it launches. These reserves are determined by independent organizations that have not yet been disclosed. will be inspected.
Stable coins are crypto assets indexed to commodities such as dollars, euros and gold. The most popular among these is Tether (USDT). The company adds $1 to its reserve for every 1 USDT it releases. Thus, USDT is always at the level of 1 dollar. Here is the Ripple team a similar one study will make.
Why will Ripple launch its own stable coin?
Ripple’s plan to create its own stablecoin new is not there announced. In the official statement, it was stated that the past events were taken into consideration and there were some allegations about Tether, and therefore they decided to produce their own stable coin. Also for the purpose of development of Ripple alternative will be produced specified.
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What will happen to XRP?
Ripple network, to dateXRPIt was using a crypto asset known as “. The creation of a new stablecoin would not change anything for XRP. will not lead. XRP will be used for the same purposes now as in the past. Stable coin is next to XRP. complement will be added as . Let’s see how this situation will affect the XRP and Ripple ecosystem…
Source :
https://www.cnbc.com/2024/04/04/crypto-firm-ripple-to-launch-us-dollar-stablecoin.html