Ripple Enters the Stablecoin Market

April 4, 2024 Tóth Balázs

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Ripple has announced plans to launch a stablecoin pegged to the USD, initially available on the XRP Ledger and the Ethereum blockchain. With their new product, they aim to provide more options for institutional investors. The stablecoin will be backed by USD bank deposits and short-term US Treasury bonds. With the stablecoin market projected to grow from $150 billion to $2.8 trillion by 2028, Ripple aims to compete with leading stablecoins like USDT and USDC.

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Ripple Enters the Stablecoin Market

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