According to last minute information, Ripple will release a stablecoin that will rival USDT and USDC.
According to Coindesk, Ripple is preparing to launch its own stablecoin pegged to the US dollar.
“The stablecoin market is worth over $150 billion today and is predicted to exceed $2.8 trillion by 2028.
There is clear demand for stablecoins that provide trust, stability and utility.
We plan to launch our own stablecoin later this year.
This stablecoin will be 100% backed by US dollar deposits, short-term US government treasury bonds and other cash equivalents.
This stablecoin will initially be placed on Ripple's institution-focused XRP Ledger alongside the Ethereum blockchain and will be based on Ethereum's ERC-20 token standard.”
After this news, the XRP price started to rise.
*This is not investment advice.