USDC

<ul><li>Ripple is set to enter the stablecoin arena with a United States Dollar-backed digital asset, aiming to carve out a presence in the $150 billion stablecoin market.</li><li>The firm emphasizes trust and transparency for its stablecoin and plans to back it with U.S. government bonds, low-risk investments, and U.S. dollar deposits.</li><li>With an eye on a future $2 trillion market by 2028, Ripple’s strategy includes launching a multichain stablecoin accessible on both Ethereum and XRPL.</li></ul>Blockchain payments giant Ripple is eyeing the launch of a stablecoin backed 1:1 by the United States Dollar. The assets backing the stablecoin will include U.S. government bonds, low-risk investments, and, of course, U.S. dollar deposits. According to the official <a href="https://x.com/Ripple/status/1775873224531665051?s&#61;20" rel="noopener noreferrer nofollow">announcement</a>, the firm wants to introduce a more trustworthy alternative asset to compete with Circle and Tether for a piece of the <a href="https://www.coingecko.com/en/categories/stablecoins" rel="noopener noreferrer nofollow">$150 billion</a> stablecoin market.The stablecoin reserves will be regularly audited, and monthly attestation reports will be provided to the public. However, the announcement did not mention which auditing firm would be involved in the process. In a statement to CNBC, Ripple CEO Brad Garlighouse <a href="https://www.cnbc.com/2024/04/04/crypto-firm-ripple-to-launch-us-dollar-stablecoin.html" rel="noopener noreferrer nofollow">said</a>:&#34;This market will look different [in future], certainly based on size&#34;.Garlinghouse added that the current stablecoin market leaders have “some uncertainty.” While he did not mention any names, he argued that Ripple’s stablecoin would provide a better alternative as it is a regulated institution in New York, Ireland, Singapore, etc.Read more :<a href="https://cryptotale.org/ripple-sets-eyes-on-stablecoin-market-with-usd-backed-digital-currency/" rel="noopener noreferrer nofollow">Ripple Sets Eyes on Stablecoin Market with USD-Backed Digital Currency</a>.Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ripple Sets Eyes on Stablecoin Market with USD-Backed Digital Currency

CryptoTale

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