Ripple Launches New Stablecoin, Challenging Tether and USDC

Ripple, the developer behind the XRP Ledger, has launched a new stablecoin backed by USD deposits and short-term US government treasuries. This move positions Ripple as a significant player in the stablecoin market, challenging established tokens like Tether and USDC.

The new stablecoin aims to provide a secure and stable digital asset for transactions, enhancing Ripple's ecosystem and offering more options for users.