Ripple will launch a USD stablecoin! XRP jumped 7% in response to the battle between USDT and USDC

This site (120BtC.coM): As the total market value of certain coins has increased from US$130.3 billion at the beginning of the year to US$153 billion now, a significant increase of US$22.7 billion, an increase of 17.42% , industry giant Ripple, an enterprise payment and transaction network, announced that it will enter this booming field. Ripple plans to launch a stablecoin pegged 1:1 to the U.S. dollar later this year. This new stablecoin will operate on Ethereum and Ripple’s self-developed decentralized public chain XRP Ledger (XRPL), and will be expanded in the future. to more blockchain and decentralized finance (DeFi) protocols and applications.

Ripple looks to the future on X to determine demand for the coin. The current size of the deterministic currency market exceeds US$150 billion and is expected to exceed US$2.8 trillion in 2028. There is a clear need for deterministic coins that offer trust, stability, and utility.

Ripple stablecoin will be 100% backed by cash and cash equivalents

To meet this growing demand, Ripple will use its more than a decade to build real-world financial solutions for institutions around the world experience in issuing a stable currency.

The announcement pointed out that Ripple’s stablecoin is backed by U.S. dollar deposits, short-term U.S. government bonds and other cash equivalents. These reserve assets will be audited by a third-party accounting firm, and Ripple will issue certifications monthly.

Monica Long, president of Ripple, said that issuance of their own stablecoins on XRP Ledger and Ethereum will become a key entry point for them, liberating new institutions and DeFi use cases across multiple ecosystems. Opportunity. This helps promote diversification and wider usage, bringing more opportunities and benefits to the cryptocurrency market and playing an important role in the growing blockchain industry.

“XRP Ledger’s native features, including decentralized exchanges and automated market makers, are built to leverage XRP as a bridging asset. Bringing a trusted stablecoin to XRPL will drive more Adopt and develop, and contribute to a vibrant ecosystem.”

Five Advantages of Ripple’s Stablecoin

Ripple claims that the stablecoin it launches will bring the following key advantages:

• Enterprise-level solutions: Ripple provides blockchain solutions for the needs of financial institutions and enterprises. It will improve the payment process by leveraging XRP and stable coins, especially targeting customer needs in emerging markets. , enable stablecoin payments.

• Compliance first: Ripple is committed to regulatory compliance on a global scale, holding including the New York BitLicense, nearly 40 currency transfer licenses across the United States, and major licenses issued by the Monetary Authority of Singapore. Multiple licenses and registrations such as payment agency license.

• Liquidity on DEX: Ripple’s stablecoin will provide trading on DEX, increasing the liquidity of trusted assets on DEX.

• Transparent Reserve Guarantee: Ripple guarantees its stablecoin is backed 1:1 by cash and cash equivalents and promises to release proof of assets monthly.

• Multi-chain compatibility: Not only issued on XRP Ledger, it will also be compatible with Ethereum, supporting XRPL native functions and ERC20 standards, allowing developers and users to trade across chains and enjoy more Great flexibility and interoperability.

, exceeding yesterday’s halved BCH trading volume. At the same time, the price of XRP also rose by nearly 7% in a short period of time, breaking through $0.61 at about 9:00 last night, reaching a maximum of $0.6176.

It has fallen back before the deadline and is now trading at $0.586, up 2.21% in the past 24 hours.

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