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In exciting news for the cryptocurrency community, fintech giant <a href="https://u.today/ripple-releases-exciting-statement-on-xrp-ledger-amm" rel="noopener noreferrer nofollow">Ripple</a> will issue its USD-backed stablecoin, which is intended to expand utility and liquidity to XRP Ledger. This move is historic for the XRP Ledger community, driving more use cases, liquidity and opportunities for developers and users.
In this light, <a href="https://u.today/ripple-ceo-excited-on-new-additions-to-companys-executives" rel="noopener noreferrer nofollow">Ripple CEO</a> Brad Garlinghouse took to X to express his excitement about the landmark move. "Launching a stablecoin is a natural step for Ripple as we bridge the gap between traditional finance and crypto," <a href="https://twitter.com/bgarlinghouse/status/1775873645044486171" rel="noopener noreferrer nofollow">Garlinghouse</a> wrote, lauding Ripple's track record and resiliency, which speak for themselves.
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 Launching a stablecoin is a natural step for Ripple as we bridge the gap between traditional finance and crypto. We have 1/ the years of experience 2/ regulatory footprint 3/ a strong balance sheet and 4/ a network with near global payout coverage, to offer the best of… <a href="https://t.co/GlyqhYl9ES" rel="noopener noreferrer nofollow">https://t.co/GlyqhYl9ES</a>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1775873645044486171?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 4, 2024</a>
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The same excitement was expressed by Ripple CTO <a href="https://twitter.com/JoelKatz/status/1775877455946912122" rel="noopener noreferrer nofollow">David Schwartz</a>, who stated that the move would be a game-changer for XRP Ledger users and developers.
"A high-quality USD stablecoin on the XRPL – with its decentralized exchange and features like issued currencies, auto-bridging (that uses XRP as the native currency to facilitate trades between other assets), and the AMM — will be a gamechanger for users and devs," Schwartz wrote.
At its debut, the stablecoin will be available on the XRP Ledger (XRPL) and Ethereum (ETH) blockchains, with ambitions to expand to more blockchains, DeFi protocols and apps in the future.
The <a href="https://u.today/xrp-ledger-hits-historic-milestone-of-87-million-ledgers-details" rel="noopener noreferrer nofollow">XRP Ledger</a>’s native capabilities, which include a decentralized exchange and an automated market maker, were designed to use XRP as a bridge asset. Introducing a stablecoin to XRPL is expected to drive more adoption and development, contributing to a thriving ecosystem.
The <a href="https://u.today/xrp-sudden-price-reversal-triggers-2567-million-losses-details" rel="noopener noreferrer nofollow">XRP price</a> surged after news emerged on the Ripple-owned stablecoin, which is expected to be available later this year, albeit subject to applicable regulatory approval.
Following the news, XRP surged by 8% in an hour. At the time of writing, XRP was up 2.50% in the last 24 hours to $0.606, having reached intraday highs of $0.617.

Ripple CEO Excited as Company Takes Giant Step Toward XRP Ledger Adoption

U_Today

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