Crypto Updates

Ripple’s USD-Pegged Stablecoin Initiative Targets Rising Market Demand


Ripple, known for its enterprise-grade blockchain solutions,
has announced its intention to introduce a stablecoin pegged 1:1 to the US
dollar. This revelation comes as the demand for stablecoins showcasing
reliability, trust, and utility continues to surge.

The upcoming stablecoin from Ripple will be fully backed by
US dollar deposits, short-term US government treasuries, and other cash
equivalents. To ensure transparency and accountability, these reserve assets
will undergo regular audits conducted by a reputable third-party accounting
firm. Furthermore, Ripple pledges to provide monthly attestations of these

The stablecoin market, currently valued at approximately
$150 billion, is projected to soar beyond $2.8 trillion by 2028. Recognizing
this potential, Ripple aims to leverage its extensive experience in crafting
real-world financial solutions to meet this escalating demand.

Multi-Blockchain Stablecoin: Enhancing Liquidity and

Upon its launch, Ripple’s stablecoin will initially be
accessible on the XRP Ledger (XRPL) and Ethereum blockchains, with plans
for expansion to additional blockchains and decentralized finance
protocols in the future.

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