Ripple Eyes Institutional Market with USD-Backed Stablecoin

Ripple is poised to launch a U.S. dollar-backed stablecoin, aiming to enhance liquidity and expand utility across its XRP Ledger and Ethereum platforms. Reece Merrick, Ripple’s Middle East and Africa Managing Director, confirmed this strategic move despite ongoing legal battles with the SEC. This stablecoin promises to bolster Ripple’s offerings in regulated markets and foster […]

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Ripple Eyes Institutional Market with USD-Backed Stablecoin

  • Targets regulated markets and expands XRP Ledger utility.
  • Stablecoin aims to connect traditional finance with digital currencies.
  • Increased traffic to XRP Ledger expected to benefit the proposed stablecoin.

Ripple is poised to launch a U.S. dollar-backed stablecoin, aiming to enhance liquidity and expand utility across its XRP Ledger and Ethereum platforms. Reece Merrick, Ripple’s Middle East and Africa Managing Director, confirmed this strategic move despite ongoing legal battles with the SEC. This stablecoin promises to bolster Ripple’s offerings in regulated markets and foster a more robust infrastructure for both institutional and decentralized finance.

This launch marks a significant milestone for Ripple, representing its latest effort to bridge the gap between traditional financial systems and the evolving digital currency space. By deploying the stablecoin on both the…

The post Ripple Eyes Institutional Market with USD-Backed Stablecoin appeared first on Coin Edition.