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17.04 - 21:15
Ripple plans stablecoin
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finextra.comWith the stablecoin market worth about $150 billion, "there’s clear demand for stablecoins that deliver trust, stability, and utility," says Ripple.
The firm is planning to throw its hat in the ring later this year, subject to regulatory approval, promising a token 100% backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. Reserve assets will be audited by a third-party accounting firm.
"This is a natural step for Ripple to continue bridging the gap between traditional finance and crypto,” says Brad Garlinghouse, Ripple CEO.
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