👀💸 @Ripple has introduced a new STABLECOIN to compete $USDT & $USDC.

👉The stablecoin plans to release "later this year".

👉100% BACKED by U.S. dollar deposits, short-term U.S. government Treasuries & other cash equivalents.

👉Initially launch on RIPPLE's institution-focused #XRP Ledge and @ethereum blockchain.

👉Based on @ethereum's ERC-20 token standard.

👉Aimed primarily at enterprise customers and banking institutions.

👉@Ripple is working with U.S. banks to hold reserves.

👉Taking a "compliance-first mindset" to meet regulatory requirements.

Read more:

1️⃣ https://www.coindesk.com/tech/2024/04/04/ripple-developer-behind-xrp-ledger-enters-stablecoin-fray-vs-tether-usdc/

2️⃣ https://www.coindesk.com/consensus-magazine/2024/04/04/what-does-ripples-stablecoin-mean-for-xrp/