According to PANews, Ripple plans to issue a stablecoin backed by the US dollar. The token, expected to be issued later this year, will be 100% backed by U.S. dollar deposits, short-term U.S. government debt and other cash equivalents, the company said. The stablecoin will first be deployed on institution-focused Ripple’s XRP Ledger and Ethereum blockchains, and will be based on Ethereum’s ERC-20 token standard.

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