🔥Ripple and its plans for a new stable currency
#Ripple , the issuer behind the #XRP token, has announced that it has plans to launch a stablecoin, which will be backed by US dollars and hopes to compete for a share of the market, currently dominated by Tether and Circle.
The launch of this new Ripple stablecoin will initially be available at #Blockchain XRP Ledger and #Ethereum . They also hope that it will expand towards more blockchain and that decentralized finance protocols and applications will also be included (#DeFi ).
The plans also indicate that this new stable currency will be 100% backed by deposits in US dollars, short-term US government bonds and cash equivalents.
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