{"id":28685,"date":"2024-04-04T14:03:13","date_gmt":"2024-04-04T14:03:13","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ripple-to-issue-usd-pegged-stablecoin-challenging-tether-and-usdc-market-dominance\/"},"modified":"2024-04-04T14:03:13","modified_gmt":"2024-04-04T14:03:13","slug":"ripple-to-issue-usd-pegged-stablecoin-challenging-tether-and-usdc-market-dominance","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ripple-to-issue-usd-pegged-stablecoin-challenging-tether-and-usdc-market-dominance\/","title":{"rendered":"Ripple to issue USD-pegged stablecoin challenging Tether and USDC market dominance"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/12\/1702371596392-d0e14043-e7b3-4af2-9a39-596a02f9be1f-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/12\/1702371596392-d0e14043-e7b3-4af2-9a39-596a02f9be1f-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/12\/1702371596392-d0e14043-e7b3-4af2-9a39-596a02f9be1f-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/12\/1702371596392-d0e14043-e7b3-4af2-9a39-596a02f9be1f-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Ripple enters the stablecoin market with a USD-pegged token.<\/li>\n<li>Backed by USD deposits, treasuries, and audits, Ripple\u2019s stablecoin targets institutional adoption.<\/li>\n<li>The new stablecoin will initially be issued on Ethereum and XRP Ledger.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/ripple\/what-is-ripple\/\">Ripple<\/a>, the blockchain enterprise behind XRP Ledger, has announced its entry into the stablecoin market with plans to introduce a USD-pegged stablecoin.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">1\/ The stablecoin market is booming \u2013 around $150B today, and projected to soar past $2.8T by 2028. There&#8217;s a clear demand for trust, stability, and utility. <\/p>\n<p>That&#8217;s why later this year we\u2019re launching a stablecoin pegged 1:1 to the USD on the XRP Ledger and Ethereum.\u2026<\/p>\n<p>\u2014 Ripple (@Ripple) <a href=\"https:\/\/twitter.com\/Ripple\/status\/1775873224531665051?ref_src=twsrc%5Etfw\">April 4, 2024<\/a><\/p>\n<\/blockquote>\n<p>Backed by a robust reserve of USD deposits, short-term U.S. government treasuries, and other cash equivalents, Ripple aims to rival existing stablecoins like <a href=\"https:\/\/coinjournal.net\/tether\/what-is-tether\/\">Tether (USDT)<\/a> and Circle\u2019s USD Coin (USDC).<\/p>\n<h2>Ripple\u2019s move into the stablecoin market<\/h2>\n<p>Commenting on the stablecoin launch plans, Ripple\u2019s Chief Technology Officer, David Schwartz, joined Ripple\u2019s CEO, Brad Garlinghouse, in acknowledging that \u201claunching a stablecoin is a natural step for Ripple,\u201d as the platform seeks to \u201cbridge the gap between traditional finance and crypto.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">A high-quality USD stablecoin on the XRPL \u2013 with its decentralized exchange and features like issued currencies, auto-bridging (that uses XRP as the native currency to facilitate trades between other assets), and the AMM \u2014 will be a gamechanger for users and devs. <a href=\"https:\/\/t.co\/uGC72bosfM\">https:\/\/t.co\/uGC72bosfM<\/a><\/p>\n<p>\u2014 David &#8220;JoelKatz&#8221; Schwartz (@JoelKatz) <a href=\"https:\/\/twitter.com\/JoelKatz\/status\/1775877455946912122?ref_src=twsrc%5Etfw\">April 4, 2024<\/a><\/p>\n<\/blockquote>\n<p>With the stablecoin launch slated for later this year, Ripple aims to leverage its compliance-first approach and partnerships with global banks to provide a trusted alternative for institutional clients and payment companies.<\/p>\n<h2>The distinguishing features of Ripple\u2019s stablecoin<\/h2>\n<p>Ripple\u2019s stablecoin will offer transparency through regular audits conducted by third-party accounting firms, ensuring accountability and trust for users.<\/p>\n<p>The stablecoin will initially be available on the XRP Ledger and <a href=\"https:\/\/coinjournal.net\/ethereum\/what-is-ethereum\/\">Ethereum<\/a> networks, with plans to expand to additional blockchains and DeFi protocols over time.<\/p>\n<p>By deploying the stablecoin on the XRP Ledger and Ethereum, Ripple aims to unlock new opportunities in institutional and decentralized finance (DeFi) use cases across multiple ecosystems.<\/p>\n<p>By providing a trusted and compliant stablecoin option, Ripple seeks to drive adoption among enterprise clients and contribute to a vibrant ecosystem of stable assets in the cryptocurrency market.<\/p>\n<p>With the stablecoin market projected to reach $2.8 trillion by 2028, Ripple sees significant potential for growth and adoption.<\/p>\n<p>While Tether (USDT) currently dominates the stablecoin market, Ripple sees an opportunity to provide an alternative amidst regulatory concerns and market dynamics.<\/p>\n<p>Ripple acknowledges the dominance of USDT but believes there is room for multiple options, particularly in DeFi applications where concentrated risk poses challenges.<\/p>\n<p>By offering a stablecoin backed by USD reserves and supported by compliance measures, Ripple aims to address the needs of enterprise-grade institutional clients and non-banking financial institutions.<\/p>\n<h2>Ripple still facing legal challenges<\/h2>\n<p>Ripple\u2019s plans to launch a stablecoin comes in the midst of legal battles with the U.S. Securities and Exchange Commission (SEC) regarding the sale of XRP.<\/p>\n<p>Ripple, however, reaffirms its commitment to compliance and regulatory standards. With a growing license portfolio in key regions globally, Ripple aims to navigate regulatory landscapes effectively while expanding its stablecoin offering to cater to a diverse range of users and use cases.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ripple-to-issue-usd-pegged-stablecoin-challenging-tether-and-usdc-market-dominance\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Alt Coin News and Cryptocurrency Comparison ) Ripple enters the stablecoin market with a USD-pegged token. Backed by USD deposits, treasuries, and audits, Ripple\u2019s stablecoin targets institutional adoption. The new stablecoin will initially be issued on Ethereum and XRP Ledger. Ripple, the blockchain enterprise behind XRP Ledger, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":28686,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28685"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=28685"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/28685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/28686"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=28685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=28685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=28685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}