Summary
TLDR: Ripple will launch a USD-pegged stablecoin backed by US dollar deposits and other assets, with audits and monthly attestations. The stablecoin will drive adoption in the XRPL ecosystem and be available on XRP Ledger and Ethereum. Despite facing a $2 billion fine from the SEC, Ripple continues to grow its portfolio with regulatory compliance in mind.
Key Points
1. Ripple will launch a USD-pegged stablecoin backed by US dollar deposits, US Treasurys, and cash equivalents, with third-party audits and monthly attestations.
2. USD-pegged stablecoins are the most popular RWAs, with Tether’s USDT dominating almost 70% of the market share, while EURO-pegged stablecoins have gained less interest.
3. Ripple’s CEO sees entering the stablecoin market as a natural step, with plans to expand the token to other blockchains and protocols, despite ongoing legal battles with the SEC.