Ripple Set to Introduce a USD-Backed Stablecoin on Ethereum and XRP Ledger

By: Eva Baxter

Ripple, the prominent crypto payments firm, has hinted at the forthcoming launch of a dollar-pegged stablecoin this year. The stablecoin is poised to be circulated on both Ethereum and XRP Ledger. Ripple's proposed token will be 100% backed, split between U.S. dollar deposits, short-term U.S. government Treasuries, and other cash equivalents as stated by the company.