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Ripple Announces the Launch of a Stablecoin Pegged to US Dollar

Ripple, a provider of enterprise blockchain and crypto solutions, has revealed plans to introduce a stablecoin pegged 1:1 to the US dollar (USD). The asset will be backed entirely by US dollar deposits, short-term US government treasuries, and other cash equivalents. According to an April 4 press release, these reserve assets would undergo audits by a third-party accounting firm, with monthly attestations to be published for public scrutiny. The benefits of Ripple’s stablecoin include its enterprise-grade nature, compliance-first mindset, liquidity on the DEX, transparent reserve, and multi chain compatibility. Ripple’s stablecoin will boost liquidity on the DEX by providing a credible asset for trading on the XRPL.

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