Ripple Enters Competitive Stablecoin Market with Launch of US Dollar Token
Ripple Labs Inc., a leading blockchain developer, is preparing to launch its own dollar-denominated stablecoin, adding to the crowded digital asset landscape. The stablecoin, designed to maintain a constant value of $1, will debut later this year, according to CEO Brad Garlinghouse. Backed by a one-to-one reserve of US dollar deposits, short-term US government bonds,…