Ripple to launch U.S. dollar stablecoin, taking on a $150 billion market dominated by Tether, Circle
Publishing timestamp: 2024-04-04 12:41:12
Summary
Ripple is launching a U.S. dollar stablecoin to enter the stablecoin market, competing with giants like Tether and Circle. The move comes after issues with other stablecoins like USDT and USDC. Ripple CEO is confident despite competition and legal issues with SEC. Ripple stablecoin will also be used in its On-Demand Liquidity product. XRP has faced obstacles in finding use cases with banks, but stablecoins are seen as complementary to XRP ecosystem. Ripple is also facing a lawsuit from SEC regarding the sale of XRP tokens.
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Keywords: paypal holdings inc, markets, fintech, breaking news: technology, technology, business news, breaking news: markets,
Source: https://www.cnbc.com/2024/04/04/crypto-firm-ripple-to-launch-us-dollar-stablecoin.html