Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy BNB
BNB (BNB)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (POL)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)
Make crypto bots for trading

Ripple will release a stablecoin pegged to the US dollar

Altcoins: Ripple will release a stablecoin pegged to the US dollar

The management of Ripple Labs recently announced its strategic plan to issue its own stablecoin pegged to the value of the U.S. dollar. According to Ripple's Chief Technology Officer David Schwartz, the digital asset is scheduled to be released by the end of 2024.

The stablecoin will reportedly be backed by "U.S. dollar deposits, short-term U.S. government treasuries and similar liquid assets." Its deployment will span the XRPL and #Ethereum networks, and an external organization will be responsible for verifying the reserves.

Monica Long, president of Ripple, said the launch of a steblecoin on XRP Ledger and Ethereum signifies a watershed moment that opens up new perspectives for institutional and #DeFi participants across ecosystems.

David Schwartz sees steblecoin as a formidable rival to established assets such as #USDT and #USDC, emphasizing its focus on corporates and payment service providers. Ripple is looking to establish a strong foothold in the digital asset space.

In addition, Ripple's management expects the emergence of the stablecoin to contribute to the development of the decentralized XRP Ledger ecosystem. The company prioritizes transparency and transaction security, and Schwartz emphasized the importance of regular public audits by a reputable accounting firm.

Brad Garlinghouse, CEO of #Ripple Labs, previously endorsed the concept of launching an XRP-ETF, which is in line with the company's strategic initiatives in the evolving landscape of #digital assets.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: MEXC Q3 2025 Report Highlights Market Leadership Across New Listings, Security, and Ecosystem Growth
Global cryptocurrency exchange MEXC has published its Q3 2025 Ecosystem & Growth Report, highlighting sustained expansion in listings, user activity, product innovation, security, and..
Artificial Intelligence (AI): DeepSeek dominates AI crypto trading competition
The Chinese AI system DeepSeek showed impressive results in an experimental crypto trading competition, where several models traded with the same capital of $10,000..
Press Releases: MEXC Launches USDT & USDC Staking Gala: Earn 15% APR With Flexible Redemption and Up to 2,926 USDT
MEXC, a leading global cryptocurrency exchange, has officially launched the USDT & USDC Staking Gala, offering users the opportunity to earn up to 15% APR through a flexible redemption..
Press Releases: MEXC Launches ENA Extravaganza with $1 Million Prize Pool, Zero-Fee Trading and Up to 600% APR Staking
MEXC, a leading global cryptocurrency exchange, announced the launch of the ENA Extravaganza in collaboration with Ethena, offering new and existing users a $1 million prize pool alongside..
⁝⁝⁝

Trending news

  • Artificial Intelligence (AI)
  • Altcoins
  • Bitcoin
  • DeFi
  • Ethereum
  • show more