Ripple to launch its stablecoin – Everything you need to know
Ripple, the company issuing the XRP token, plans to launch a US dollar-backed stablecoin to compete with heavyweights like Tether (USDT) and Circle (USDC). This stablecoin, whose name has not yet been revealed, will be launched on the Ethereum environment and on the Ripple blockchain as an ERC-20 token.
Ripple prepares a stablecoin pegged to the US dollar
A stablecoin designed to compete with market giants Tether, with its USDT now capitalized at more than $100 billion, and Circle, with its USDC which is approaching $33 billion: this is what Brad Garlinghouse announced , the CEO of Ripple, in an interview .
The company issuing XRP intends to launch a stablecoin backed by the dollar, which will be launched on the Ethereum environment and on the Ripple blockchain in the form of an ERC-20 token . The stablecoin, whose name has not yet been revealed, is expected to be released later this year.
As part of an interview with our colleagues at The Block, David Schwartz, Ripple's CTO, indicated that the company would have liked to launch a stablecoin sooner , but that economic factors had led them to be somewhat cautious. The increase in interest rates would have changed the situation and made the market more attractive, according to him.
