Summary
TLDR: Ripple plans to launch its own stablecoin pegged to the U.S. dollar across Ethereum and XRP Ledger blockchains later this year. The stablecoin will be audited and backed by U.S. dollars, government treasuries, and cash equivalents. Ripple sees a big opportunity in the growing stablecoin market and aims to merge enterprise and retail use cases with traditional finance. They hope to expand to more blockchains based on demand and use cases.
Key Points
1. Ripple plans to launch its own stablecoin pegged to the U.S. dollar across the Ethereum and XRP Ledger blockchains, set to roll out later this year and fully backed by U.S. dollars and other cash equivalents.
2. Ripple believes the stablecoin market, currently valued at $150 billion, is set to grow into a multi-trillion-dollar market in the coming years and sees a clear opportunity to enter the space with its strong balance sheet, compliance record, and licenses.
3. The upcoming Ripple stablecoin will debut on Ethereum and XRP Ledger, with plans to expand to additional blockchains over time based on demand and use cases, allowing for more trading options and market liquidity.