Stablecoin

April

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-strategic-plan-to-introduce-a-new-stablecoin" rel="noopener noreferrer nofollow">Ripple’s Strategic Plan to Introduce a New Stablecoin</a><br></p>
<p style="text-align: justify">During the Paris Blockchain Week, <a href="https://en.bitcoinhaber.net/okx-exchange-eliminates-tether-pairings-in-european-markets" rel="noopener noreferrer nofollow">Tether</a> CEO Paolo Ardoino shared insights on the potential impact of <a href="https://en.bitcoinhaber.net/exploring-xrp-coins-price-trajectory-as-bitcoin-holds-below-66000" rel="noopener noreferrer nofollow">Ripple</a>‘s proposed stablecoin on the industry’s credibility. Ardoino highlighted the importance of competition among stablecoin providers for fostering legitimacy in the eyes of regulatory bodies. He projects a growth in the stablecoin market, valuing it at over $130 billion by April 2024, underscoring the sector’s rising significance in both centralized and decentralized financial ecosystems.</p>
<h2 id="insightful-comments-from-ardoino">Insightful Comments from Ardoino</h2>
<p style="text-align: justify">Ardoino emphasized the benefits of a multi-player environment in the stablecoin market, which he believes can lead to more productive discussions with regulators. According to him, companies coming together to support the stablecoin ecosystem can significantly strengthen their position and effectiveness in regulatory dialogues. He also noted Ripple’s timetable for launching its stablecoin by the end of 2024, suggesting the market’s capacity to accommodate more credible fiat-backed tokens.</p>
<h2 id="crypto-market-and-financial-sector">Crypto Market and Financial Sector</h2>
<p style="text-align: justify">Amid global financial instability, Ardoino pointed out the increasing relevance of stablecoins like <a href="https://en.bitcoinhaber.net/tether-prints-1-billion-usdt-inventory-replenishment-or-market-manipulation" rel="noopener noreferrer nofollow">USDT</a> and USDC, particularly in countries with high inflation rates and depreciating national currencies. He highlighted the essential role these digital assets play for over two billion unbanked individuals worldwide, offering an accessible means to store and transact value beyond traditional banking systems.</p>
<h3 id="points-to-consider">Points to Consider</h3>
<ul>
 <li>Ripple’s entry into the stablecoin market could enhance the sector’s credibility.</li>
 <li>Healthy competition among stablecoin providers is crucial for gaining regulatory trust.</li>
 <li>Stablecoins are becoming vital in regions with financial instability, aiding those without access to conventional banking.</li>
</ul>
<p style="text-align: justify">In addition to expanding his views on the market dynamics, Ardoino shared that the current USDT circulation has an over-collateralization of 106%, with plans to transition towards a full reserve in U.S. Treasury bonds, holding roughly $90 billion in these securities. This strategic financial management further solidifies the robustness of Tether’s operations amidst the evolving market landscape.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ripples-strategic-plan-to-introduce-a-new-stablecoin" rel="noopener noreferrer nofollow">Ripple’s Strategic Plan to Introduce a New Stablecoin</a></h5>

Ripple’s Strategic Plan to Introduce a New Stablecoin

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