Ripple launches a USD-backed stablecoin on Ethereum and XRP Ledger, entering the $150bn market.
Ripple, the blockchain payments firm, announces the launch of a US dollar-backed stablecoin, joining the $150bn market dominated by Tether and Circle. The new stablecoin, to be launched on Ethereum and the XRP Ledger, will be fully backed by USD deposits, short-term US government treasuries, and other cash equivalents. Ripple plans to expand the stablecoin to other blockchains and decentralized financial platforms to enhance its availability to global markets.
April 04, 2024
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