![act as a top notch crypto journalist and expert and rewrite and expand a bit on the information below. Do it in a journalistic fashion, be concise and to the point. Add markdown formatting. Avoid phrases like "in a surprising turn of events". At least 600 words. Dont include any quotes. Make sure to produce an article based on the information that I provide below. Don't add any fluff content. Make sure to add all information that I provide below. Don't miss any info. Include all the details Also include necessary H2s](https://captainaltcoin.com/wp-content/uploads/2023/08/ripple-vs-xrp.png)
Ripple, the company behind the XRP cryptocurrency, has announced ambitious plans to launch its own USD stablecoin later this year. Stablecoins are cryptocurrencies designed to minimize price volatility by being pegged to a relatively stable asset or basket of assets, usually fiat currencies like the U.S. dollar.
In a series of tweets, Ripple highlighted the booming stablecoin market, which is around $150 billion today and projected to reach a staggering $2.8 trillion by 2028. The company cited a “clear demand for trust, stability, and utility” as the driving force behind its decision to launch a stablecoin pegged 1:1 to the U.S. dollar.
Ripple plans to issue its stablecoin on both the XRP Ledger (XRPL) and Ethereum, two major blockchain networks. This move extends Ripple’s reach into the institutional and decentralized finance (DeFi) realms, diversifying use cases and enhancing its payments infrastructure. The goal is to bring the worlds of traditional and decentralized finance closer together through a regulated, enterprise-grade stablecoin solution.
![](https://captainaltcoin.com/wp-content/uploads/2024/04/image-207-1024x538.png)
To ensure trust and reliability, Ripple’s stablecoin will be 100% backed by U.S. dollar deposits, U.S. government bonds, and cash equivalents. The company has pledged transparency by arranging for monthly third-party attestations to verify the stablecoin’s backing.
Stablecoins serve as a pivotal entry point into the world of DeFi, Ripple noted. By introducing a trusted stablecoin to the XRPL, the company aims to generate more use cases, liquidity, and opportunities for developers and users alike within the XRP ecosystem.
Doge2014 raises 300K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +Moreover, Ripple recognizes the future of crypto as being multi-chain, so launching the stablecoin on both XRPL and Ethereum will open doors to cross-chain interoperability – the ability for different blockchain networks to seamlessly communicate and transfer assets between each other.
Ripple’s move into stablecoins isn’t just about innovation; it’s about contributing to the XRPL ecosystem and setting the stage for a more robust and diverse crypto landscape.
With this initiative, Ripple hopes to establish itself as a major player in the rapidly growing stablecoin market while advancing its vision for an Internet of Value – a world where money moves as seamlessly as information does today.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.