BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Everything You Need to Know About Ripple’s Upcoming Stablecoin

by Matoy
April 4, 2024
in Breaking News, Crypto
A A
1
SHARES
Share on TwitterShare on Reddit
  • Ripple announces a stablecoin pegged to the US dollar, set to launch later this year on XRP and Ethereum blockchains.
  • The stablecoin will be fully backed by US dollar deposits and short-term US Treasuries, aiming for long-term market presence.
  • Ripple’s move reflects a strategy to bridge traditional finance with cryptocurrency, expanding DeFi opportunities across blockchains.

Ripple, the organization behind the XRP ledger, has revealed its ambitious plans to debut a stablecoin tied to the US dollar. Slated for release later in the year, this digital currency will be accessible on both the XRP and Ethereum blockchain platforms.

In a commitment to ensure stability and reliability, Ripple has declared that the stablecoin will be “100% backed by US dollar deposits, short-term US government Treasuries, and other cash equivalents.” This move is part of Ripple’s broader strategy to cement its position in the digital asset ecosystem for the long haul.

ICYMI: Ripple $XRP is launching a stablecoin

— BlockNews.com (@blocknewsdotcom) April 4, 2024

Expanding Ripple’s Horizon

Despite facing challenges, including a prolonged legal tussle with the US Securities and Exchange Commission (SEC) and fluctuations in its native token, XRP, Ripple is not shying away from new ventures. The announcement of this stablecoin comes at a time when the stablecoin market is experiencing rapid growth, with projections suggesting it could reach over $2.8 trillion by 2028.

Ripple CEO Brad Garlinghouse emphasized the stablecoin’s role in bridging the divide between traditional financial systems and the evolving world of cryptocurrency. This initiative aligns with the needs of institutions looking to make inroads into the digital currency space through partnerships with compliant and crypto-native entities.

Fostering Innovation and Adoption

Monica Long, Ripple’s President, highlighted the significant impact the stablecoin is expected to have on the networks. She pointed out that it would serve as a crucial gateway for spawning new decentralized finance (DeFi) ventures across various blockchain ecosystems. This “trusted stablecoin,” as Long referred to it, is anticipated to spur both adoption and development within the XRP Ledger (XRPL) community.

Ripple’s venture into the stablecoin market signifies a pivotal moment for the company, demonstrating its commitment to innovation and the broader integration of cryptocurrency within the financial sector. This development is poised to offer new opportunities for users and developers alike, further enhancing the utility and reach of digital assets.

Tags: rippleStablecoin
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market
Crypto

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up
Crypto

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?
Crypto

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact
Binance BNB

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day
Crypto

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up
Crypto

Ethereum Might Be Way Too Cheap… If Stablecoins Blow Up

June 21, 2025
Load More

Related News

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

TRX Finds Its Floor as IPO Hype and Political Buzz Stir Up the Market

June 21, 2025
Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

Dogecoin to $5? One Analyst Thinks It’s Coming—and Has Charts to Back It Up

June 21, 2025
Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

Solana vs Litecoin: Who’s Closer to That Sweet ETF Approval?

June 21, 2025
Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

Binance Coin Builds Tension Beneath Resistance as Traders Brace for Impact

June 21, 2025
XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

XRP Ledger Shatters Record with 5.1 Million Transactions in a Day

June 21, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.