{"id":601447,"date":"2024-04-04T14:15:17","date_gmt":"2024-04-04T14:15:17","guid":{"rendered":"https:\/\/wncen.com\/?p=601447"},"modified":"2024-06-11T14:41:51","modified_gmt":"2024-06-11T14:41:51","slug":"ripple-prepares-to-shake-up-150b-market-with-imminent-launch-of-new-stablecoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple-prepares-to-shake-up-150b-market-with-imminent-launch-of-new-stablecoin\/","title":{"rendered":"Ripple Prepares To Shake Up $150B Market With Imminent Launch Of New Stablecoin"},"content":{"rendered":"

In a notable development, blockchain developer Ripple Labs recently announced its plans to launch a stablecoin pegged 1:1 to the US dollar (USD).\u00a0<\/span><\/p>\n

Ripple Enters Booming Stablecoin Market<\/span><\/h2>\n

According to the company’s <\/span>announcement <\/span><\/a>on Thursday, the stablecoin’s reserves will consist of US dollar deposits, short-term US Treasury bills, and other undisclosed cash equivalents. All of these will be audited by a third-party accounting firm. Ripple plans to publish monthly certifications to ensure transparency.<\/span><\/p>\n

With the stablecoin market currently valued at around $150 billion, Ripple’s entry is significant. The market is projected to exceed $2.8 trillion by 2028, highlighting the potential for growth and adoption.\u00a0<\/span><\/p>\n

Related Reading: XRP Battle Cry: Must Rally 70% To Reconquer $1 Peak After Market Turmoil<\/a><\/div>\n

Ripple CEO Brad Garlinghouse emphasized the importance of partnerships with compliant, crypto-native players for success in this space. He highlighted Ripple’s track record in launching new products and acquiring companies across various market cycles.\u00a0<\/span><\/p>\n

Garlinghouse believes that this move is not only a significant step for Ripple but will also positively impact the XRP Ledger (XRPL) community, driving more use cases, liquidity, and opportunities for developers and users.<\/span><\/p>\n

Institutional And DeFi Adoption Across Multiple Ecosystems<\/span><\/h2>\n

Initially, the stablecoin will be available on the XRP Ledger and Ethereum (ETH) blockchains. Ripple plans to expand its presence to additional blockchains and decentralized finance (DeFi) protocols and applications.\u00a0<\/span><\/p>\n

Monica Long, Ripple President, stated that issuing the stablecoin on XRPL and Ethereum will unlock new opportunities for institutional and DeFi use cases across multiple ecosystems. Long further stated:<\/span><\/p>\n

The XRP Ledger\u2019s native capabilities, including a decentralized exchange and automated market maker, were built to utilize XRP as the\u00a0bridge asset. Bringing a trusted stablecoin onto XRPL will drive more adoption and development, contributing to a vibrant ecosystem<\/p><\/blockquote>\n

Related Reading: US Govt Moves $90 Million in Bitcoin, ETH From Estonian Scammers<\/a><\/div>\n

Ultimately, Ripple’s stablecoin is expected to launch later this year, pending regulatory approval in the US market. The introduction of this stablecoin is a significant development that has the potential to reshape the stablecoin market while offering new opportunities for institutions, developers, and users alike.<\/span><\/p>\n

\"Ripple\"
The daily chart shows XRP’s price trending upwards following Ripple’s announcement. Source: XRPUSD on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from Shutterstock, chart from TradingView.com\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In a notable development, blockchain developer Ripple Labs recently announced its plans to launch a stablecoin pegged 1:1 to the US dollar (USD).\u00a0 Ripple Enters Booming Stablecoin Market According to the company’s announcement on Thursday, the stablecoin’s reserves will consist of US dollar deposits, short-term US Treasury bills, and other undisclosed cash equivalents. All of these will be audited by a third-party accounting firm. Ripple plans to publish monthly certifications to ensure transparency. With the stablecoin market currently valued at around $150 billion, Ripple’s entry is significant. The market is projected to exceed $2.8 trillion by 2028, highlighting the potential for growth and adoption.\u00a0 Related Reading: XRP Battle Cry: Must Rally 70% To Reconquer $1 Peak After Market Turmoil Ripple CEO Brad Garlinghouse emphasized the importance of partnerships with compliant, crypto-native players for success in this space. He highlighted Ripple’s track record in launching new products and acquiring companies across various market cycles.\u00a0 Garlinghouse believes that this move is not only a significant step for Ripple but will also positively impact the XRP Ledger (XRPL) community, driving more use cases, liquidity, and opportunities for developers and users. Institutional And DeFi Adoption Across Multiple Ecosystems Initially, the stablecoin will be available on the XRP Ledger and Ethereum (ETH) blockchains. Ripple plans to expand its presence to additional blockchains and decentralized finance (DeFi) protocols and applications.\u00a0 Monica Long, Ripple President, stated that issuing the stablecoin on XRPL and Ethereum will unlock new opportunities for institutional and DeFi use cases across multiple ecosystems. Long further stated: The XRP Ledger\u2019s native capabilities, including a decentralized exchange and automated market maker, were built to utilize XRP as the\u00a0bridge asset. Bringing a trusted stablecoin onto XRPL will drive more adoption and development, contributing to a vibrant ecosystem Related Reading: US Govt Moves $90 Million in Bitcoin, ETH From Estonian Scammers Ultimately, Ripple’s stablecoin is expected to launch later this year, pending regulatory approval in the US market. The introduction of this stablecoin is a significant development that has the potential to reshape the stablecoin market while offering new opportunities for institutions, developers, and users alike. Featured image from Shutterstock, chart from TradingView.com\u00a0<\/p>\n","protected":false},"author":589,"featured_media":601451,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946,16365,3680,14939,3685,91444,91443,5428,17209,11164,89417,10972,16371,78763],"class_list":["post-601447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum","tag-latest-ripple-news","tag-ripple","tag-ripple-adoption","tag-ripple-labs","tag-ripple-labs-inc","tag-ripple-labs-news","tag-ripple-labs-technology","tag-ripple-news","tag-stablecoin","tag-xrpl-news","tag-xrpusd","tag-xrpusd-price","tag-xrpusdt"],"acf":[],"yoast_head":"\nRipple Prepares To Shake Up $150B Market With Imminent Launch Of New Stablecoin<\/title>\n<meta name=\"description\" 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With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies. Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology. Driven by an insatiable thirst for knowledge, Ronaldo has delved into the depths of the crypto space, exploring its various facets, from blockchain fundamentals to market trends and investment strategies. His tireless exploration and commitment to staying up-to-date with the latest developments have granted him a unique perspective on the industry. One of Ronaldo's defining areas of expertise lies in technical analysis. He firmly believes that studying charts and deciphering price movements provides valuable insights into the market. Ronaldo recognizes that patterns exist within the chaos of crypto charts, and by utilizing technical analysis tools and indicators, he can unlock hidden opportunities and make informed investment decisions. His dedication to mastering this analytical approach has allowed him to navigate the volatile crypto market with confidence and precision. Ronaldo's commitment to his craft goes beyond personal gain. He is passionate about sharing his knowledge and insights with others, empowering them to make well-informed decisions in the crypto space. Ronaldo's writing is a testament to his dedication, providing readers with meaningful analysis and up-to-date news. He strives to offer a comprehensive understanding of the crypto industry, helping readers navigate its complexities and seize opportunities. Outside of the crypto realm, Ronaldo enjoys indulging in other passions. As an avid sports fan, he finds joy in watching exhilarating sporting events, witnessing the triumphs and challenges of athletes pushing their limits. Furthermore, His passion for languages extends beyond mere communication; he aspires to master German, French, Italian, and Portuguese, in addition to his native Spanish. Recognizing the value of linguistic proficiency, Ronaldo aims to enhance his work prospects, personal relationships, and overall growth. However, Ronaldo's aspirations extend far beyond language acquisition. He believes that the future of the crypto industry holds immense potential as a groundbreaking force in history. With unwavering conviction, he envisions a world where cryptocurrencies unlock financial freedom for all and become catalysts for societal development and growth. Ronaldo is determined to prepare himself for this transformative era, ensuring he is well-equipped to navigate the crypto landscape. Ronaldo also recognizes the importance of maintaining a healthy body and mind, regularly hitting the gym to stay physically fit. He immerses himself in books and podcasts that inspire him to become the best version of himself, constantly seeking new ways to expand his horizons and knowledge. With a genuine desire to become the best version of himself, Ronaldo is committed to continuous improvement. He sets personal goals, embraces challenges, and seeks opportunities for growth and self-reflection. Ultimately, combining his passion for cryptocurrencies, dedication to learning, and commitment to personal development, Ronaldo aims to go hand-in-hand with the exciting new era that the emerging crypto technology is bringing to the world and societies.","sameAs":["https:\/\/instagram.com\/itsmarquez_fr?igshid=ZDdkNTZiNTM=","https:\/\/x.com\/Rmmcapital"],"url":"https:\/\/wncen.com\/author\/ronaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ripple Prepares To Shake Up $150B Market With Imminent Launch Of New Stablecoin","url":"http:\/\/wncen.com\/news\/ripple-prepares-to-shake-up-150b-market-with-imminent-launch-of-new-stablecoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple-prepares-to-shake-up-150b-market-with-imminent-launch-of-new-stablecoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/shutterstock_download-7-4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/shutterstock_download-7-4.jpg?fit=390%2C260"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Ronaldo Marquez"}],"creator":["Ronaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","latest ripple news","ripple","ripple adoption","ripple labs","ripple labs inc.","ripple labs news","ripple labs technology","ripple news","stablecoin","xrpl news","xrpusd","xrpusd price","xrpusdt"],"dateCreated":"2024-04-04T14:15:17Z","datePublished":"2024-04-04T14:15:17Z","dateModified":"2024-06-11T14:41:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ripple Prepares To Shake Up $150B Market With Imminent Launch Of New Stablecoin\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-prepares-to-shake-up-150b-market-with-imminent-launch-of-new-stablecoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple-prepares-to-shake-up-150b-market-with-imminent-launch-of-new-stablecoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/shutterstock_download-7-4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/shutterstock_download-7-4.jpg?fit=390%2C260\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Ronaldo Marquez\"}],\"creator\":[\"Ronaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"latest ripple news\",\"ripple\",\"ripple adoption\",\"ripple labs\",\"ripple labs inc.\",\"ripple labs news\",\"ripple labs technology\",\"ripple news\",\"stablecoin\",\"xrpl news\",\"xrpusd\",\"xrpusd price\",\"xrpusdt\"],\"dateCreated\":\"2024-04-04T14:15:17Z\",\"datePublished\":\"2024-04-04T14:15:17Z\",\"dateModified\":\"2024-06-11T14:41:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/shutterstock_download-7-4.jpg?fit=390%2C260","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601447"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/589"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=601447"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/601447\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/601451"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=601447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=601447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=601447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}