Ripple has announced plans to launch a U.S. dollar-pegged stablecoin that will initially be available on the XRP Ledger and Ethereum blockchains.
At the moment, the two dominant USD-pegged stablecoins are Tether's USDT and Circle Internet Financial's USDC. Ripple said in its statement the stablecoin market, now worth more than $150 billion, is expected to surge to $2.8 trillion by 2028. He went on to say: "We've used USDC before there's nothing wrong with it. It's just, you don't want to have only one option."
When asked about specific use cases, Schwartz said he believes the new stablecoin should be attractive to small- and medium-sized enterprises and non-banking financial institutions like payment companies.
Source: News Formal (newsformal.com)
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