According to last minute information Ripple will launch a stablecoin to rival USDT and USDC.
According to Coindesk news Rippleis preparing to launch its own stablecoin pegged to the US dollar.
“The stablecoin market is worth over $150 billion today and is predicted to exceed $2.8 trillion by 2028.
There is clear demand for stablecoins that provide trust, stability and utility.
We plan to launch our own stablecoin later this year.
This stablecoin will be 100% backed by US dollar deposits, short-term US government treasury bonds and other cash equivalents.
This stablecoin will initially be placed on Ripple’s institution-focused XRP Ledger alongside the Ethereum blockchain and will be based on Ethereum’s ERC-20 token standard.”
1/ The stablecoin market is booming – around $150B today, and projected to soar past $2.8T by 2028. There’s a clear demand for trust, stability, and utility.
That’s why later this year we’re launching a stablecoin pegged 1:1 to the USD on the XRP Ledger and Ethereum.…
— Ripple (@Ripple) April 4, 2024
After this news, the XRP price started to rise.
*This is not investment advice.
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