- Ripple has disclosed its intention to launch a stablecoin pegged 1:1 to the USD on the XRP Ledger.
- Ripple noted that projections suggest the stablecoin market would surge beyond $2.8 trillion by 2028.
- XRP’s value surged by over 4% to above $0.6 following the announcement.
Renowned crypto platform Ripple has disclosed its intention to launch a stablecoin pegged 1:1 to the USD on the XRP Ledger and Ethereum. The firm disclosed this move in a statement via its official X account in the last few hours.
1/ The stablecoin market is booming – around $150B today, and projected to soar past $2.8T by 2028. There's a clear demand for trust, stability, and utility.That's why later this year we’re launching a stablecoin pegged 1:1 to the USD on the XRP Ledger and Ethereum.…
— Ripple (@Ripple) April 4, 2024
The notification highlighted Ripple’s observation of the flourishing stablecoin market, currently valued at approximately $150 billion. Ripple noted that projections suggest the stablecoin market would surge beyond $2.8 trillion by 2028. To this end, Ripple announced its initiative to introduce a stablecoin pegged 1:1 to the USD.
Furthermore, the compa…
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