USDC - Ripple Announces Stablecoin On XRP Ledger And Ethereum | Benzinga
Payment protocol Ripple (CRYPTO: XRP) on Thursday announced its entry into the stablecoin market with a U.S. dollar-pegged token.
What Happened: Ripple’s stablecoin aims to set a new standard in the stablecoin ecosystem by ensuring a 1:1 peg to the U.S. dollar, underpinned by substantial U.S. dollar deposits, short-term U.S. government treasuries and other cash equivalents, according to a press release.
This move positions Ripple directly against industry leaders Tether (CRYPTO: USDT) and Circle (CRYPTO: USDC), vying for a share of the rapidly growing $150 billion stablecoin market, projected to reach $2.8 trillion by 2028.
These reserves will undergo third-party ...