Stablecoin

David

Apex

XRP, the native cryptocurrency of Ripple, has surged as the company’s CTO, David Schwartz, hints at a&nbsp;major&nbsp;development. Meanwhile, amid growing anticipation, Ripple’s stablecoin project is set to revolutionize the cryptocurrency landscape. Notably, with details unveiled at the recent XRP Las Vegas conference, investors and enthusiasts eagerly await the launch, slated for June.
<h2 id="span-data-preserver-spaces-true-ripple-to-launch-stablecoin-in-june-span">Ripple To Launch Stablecoin In June</h2>
The anticipation over <a href="https://coingape.com/breaking-ripple-labs-to-issue-stablecoin-to-rival-usdt-and-usdc/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s stablecoin</a> launch was witnessed&nbsp;since early April when the company unveiled its plan&nbsp;to launch it. Notably, Ripple CEO Brad Garlinghouse revealed the company’s venture into the stablecoin realm, citing robust regulatory compliance, financial strength, and a global network as foundations.&nbsp;
Besides, the upcoming U.S. dollar stablecoin will be backed by a blend of U.S. dollar deposits, government bonds, and cash equivalents in a 1-to-1 ratio, ensuring&nbsp;stability and security for users, the <a href="https://coingape.com/ripple-ceo-brad-garlinghouse-reveals-reasons-behind-stablecoin-launch/" target="_blank" rel="noopener noreferrer nofollow">Ripple CEO</a> said&nbsp;in early April.
However, at the XRP Las Vegas conference, <a href="https://coingape.com/ripple-cto-touts-xrps-1500-growth-over-seven-years/" target="_blank" rel="noopener noreferrer nofollow">Ripple’s CTO</a>, David Schwartz, unveiled tantalizing details about the much-anticipated <a href="https://coingape.com/glossary/stable-coins/" target="_blank" rel="noopener noreferrer nofollow">stablecoin</a> project. Although specifics remain under wraps, Schwartz hinted at a forthcoming disclosure during the XRPL Apex event in Amsterdam on June 11-13.&nbsp;
Notably, this announcement has ignited excitement within the XRP community and the broader crypto sphere, signaling a potential game-changer for Ripple and its XRP Ledger ecosystem. In addition, the proposed stablecoin&nbsp;is poised&nbsp;to cater to institutions seeking exposure to digital assets while mitigating volatility risks.&nbsp;
Also Read: <a href="https://coingape.com/pendle-price-soars-4-as-arthur-hayes-bags-more-pendle/" target="_blank" rel="noopener noreferrer nofollow">PENDLE Price Soars 4% As Arthur Hayes Bags More Pendle</a>
<h2 id="span-data-preserver-spaces-true-what-s-next-span">What’s Next?</h2>
With backing from U.S. dollar deposits and short-term government treasuries, Ripple aims to offer a reliable bridge between traditional finance and the growing crypto market. Leveraging the XRP Ledger’s inherent strengths, including <a href="https://coingape.com/glossary/decentralized-exchange/" target="_blank" rel="noopener noreferrer nofollow">decentralized exchange</a> capabilities and automated market making, the stablecoin promises to unlock new avenues for institutional and <a href="https://coingape.com/glossary/defi-decentralized-finance/" target="_blank" rel="noopener noreferrer nofollow">decentralized finance (DeFi)</a> applications.
Meanwhile, the hint comes amid a recovery in the broader <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> market. In addition, a recent report from Matrixport showed a sustained surge in stablecoin inflows despite Bitcoin’s consolidation since April.
<figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" src="https://pbs.twimg.com/media/GM5DQK4acAAQCX-?format=jpg&amp;name=medium" alt="Stablecoin Market" width="754" height="451">
 <figcaption class="wp-caption-text">
 Source: Matrixport
 </figcaption>
</figure>
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> traded at $0.5283, up 1.10% over the last 24 hours, while its one-day trading volume soared 55.71% to $906.17 million. Notably, Ripple’s native crypto has touched an intraday high of $0.5471, ahead of the SEC’s reply brief deadline later today.
Also Read: <a href="https://coingape.com/pro-xrp-lawyer-debunks-fud-over-ripple-dumping-xrp-price-hit-1/" target="_blank" rel="noopener noreferrer nofollow">Pro-XRP Lawyer Debunks FUD Over Ripple Dumping XRP, Price To Hit $1?</a>
The post <a href="https://coingape.com/ripple-stablecoin-launch-june-hints-cto-david-schwartz/" rel="noopener noreferrer nofollow">Ripple Stablecoin To Launch in June, Hints CTO David Schwartz</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Ripple Stablecoin To Launch in June, Hints CTO David Schwartz

Table of Contents

Coingape News Media

Alte articole publicate pe 6 mai 2024

Solana Soars Over $150, Ethereum Nears Critical Resistance, While Furrever Token Unleashes Adorab...

Insights on Altcoins Predicted to Yield High Returns

KangaMoon (KANG) Poised To Outperform Near Protocol and Hedera In The Altcoin Market

NMDC Coin (NMDC) Soars to 14-Year High Following Impressive April Business Update

SEC Enforcement Action on Robinhood’s Crypto Trading: Impact on Bitcoin (BTC) and Ethereum (ETH) ...

Bitcoin (BTC) and Ethereum (ETH) Experience Unprecedented Value Boost: A Deep Dive into Crypto Ma...

Join our free newsletter for daily crypto updates!