Ripple releases stable coins coupled to the US dollar and thus questions the market dominance of Tether and USDC

• ripple enters the StableCoin market with a token coupled to the US dollar.
• supported by USD deposits, government bonds and exams, Ripple's stable coats on institutional acceptance.
• The new stablecoin is first output on Ethereum and XRP Ledger.

Ripple, the blockchain company behind XRP Ledger, has announced its entry into the StableCoin market and plans to introduce a stable coins coupled to the US dollar.

1/ the stablecoin market is booming-today it is around $ 150 billion and will probably increase to over $ 2.8 trillion by 2028. There is a clear demand for trust, stability and benefits.

For this reason, we will introduce a stable coin later this year, which is linked to the USD 1: 1 in the XRP Ledger and Ethereum.…

- Wellness (@ripple) 4. April 2024

Supported by a solid reserve of USD deposits, short-term US state bonds and other cash equivalents wants to compete with existing stable coins such as Tether (USDT) and CIRCLES USD COIN (USDC).

Ripple's introduction to the StableCoin market

DAVID Schwartz, Chief Technology Officer from Ripple, announced that the company's strategic decision is known to the area of the stable coins, and emphasized the growing interest in stable assets in view of regulatory uncertainties and market changes.

Since the introduction of the stable coin is planned for later this year, Ripple would like to use his compliance-first approach and his partnerships with global banks to offer institutional customers and payment companies a trustworthy alternative.

The distinguishing features of ripples stablecoin

The Ripple stablecoin offers transparency through regular exams carried out by external auditing companies, thus ensuring the accountability and the trust of the user.

The StableCoin will initially be available in the XRP Ledger and Ethereum networks and will be expanded over time to further blockchains and defi protocols.

By using the stable coin on the XRP Ledger and Ethereum, Ripple would like to open up new opportunities for applications in institutional and decentralized finance (DEFI) in several ecosystems.

By providing a trustworthy and compliant stablecoin option, Ripple would like to promote acceptance among corporate customers and contribute to a lively ecosystem of stable assets on the cryptocurrency market.

Since the StableCoin market is expected to reach $ 2.8 trillion by 2028, Ripple sees considerable growth and acceptance potential.

While Tether (USDT) is currently dominating the StableCoin market, Ripple sees an opportunity to offer an alternative in the middle of regulatory concerns and market dynamics.

ripple recognizes the dominance of USDT, but believes that there are room for several options, especially in defect applications in which concentrated risks are a challenge.

by offering a stable coin, which is covered by USD reserves and supported by compliance measures, Ripple wants to meet the needs of institutional corporate customers and non-banking financial institutions.

ripple still faces legal challenges

Ripple's plans to launch a stablecoin on the market, in the middle of legal disputes with the US stock exchange supervision SEC (Securities and Exchange Commission) falls on the sale of XRP.

Ripple confirms his commitment to compliance and regulatory standards. With a growing license portfolio in key regions worldwide, Ripple endeavors to find its way around in the regulatory landscape and at the same time expand its StableCoin offer to cover a wide range of users and applications.