Stablecoin

The post Ripple Reveals Auto-Bridging for Efficient Stablecoin Swaps on XRPL appeared first on Coinpedia Fintech News Ripple’s Chief Technology Officer, David Schwartz, has unveiled an exciting feature of the XRP Ledger (XRPL) called “Auto-bridging”. This innovative addition aims to transform the trading of stablecoins on the XRPL, promising greater efficiency and liquidity. With anticipation mounting, Schwartz sheds light on how this feature is poised to redefine trading on the XRPL platform. The Power of Auto-Bridging  Ripple’s Chief Technology Officer…

Fantom Foundation launched USDC.e stablecoin on Wormhole to boost liquidity and accessibility in their ecosystem, offering a seamless transition to native USDC in the future. USDC.e provides various functionalities, such as storage, payment, trading, borrowing, and lending, to developers and users on the Fantom blockchain. Fantom Foundation, in collaboration with Circle and Wormhole, has announced the launch of its USDC.e stablecoin on the Wormhole platform, set to go live today, April 5. This collaboration bolsters liquidity, stability, and accessibility within…

Ripple’s impending stablecoin launch aims to penetrate the $150 billion stablecoin market, potentially influencing XRP’s price and overall adoption. The stablecoin, pegged to the U.S. dollar, positions Ripple as a direct competitor to dominant players like Tether and Circle. Ripple, a leading entity in the cryptocurrency sector, is gearing up to unveil a stablecoin tied to the U.S. dollar later this year. This strategic pivot occurs amidst challenges in Ripple’s existing business model, which is centered around the XRP Ledger,…

The post Here’s How XRP Price will be Impacted from Ripple’s Stablecoin Launch appeared first on Coinpedia Fintech News Ripple’s launch of a new stablecoin has sparked curiosity about its potential to bridge the gap between XRP’s fanbase and Ripple’s struggle to attract enterprise clients. The threat of a $2 Billion fine from the SEC is looming on Ripple’s head and this sudden launch is indeed a desperate move to arrange the financials before the deadline. Despite stiff competition in…

Ripple plans monthly attestation reports for transparency, though the auditing firm responsible has not been disclosed yet. The stablecoin will be backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring stability. Ripple, has announced its plan to launch a stablecoin pegged to the U.S. dollar. This move places Ripple in direct competition with the leading stablecoin providers, Tether and Circle, who manage the UDST and USDC tokens, respectively.  The stablecoin market, where Ripple aims to make its mark,…

In a notable development, blockchain developer Ripple Labs recently announced its plans to launch a stablecoin pegged 1:1 to the US dollar (USD).  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…

Ripple, a provider of enterprise blockchain and crypto solutions, has revealed plans to introduce a stablecoin pegged 1:1 to the US dollar (USD). The asset will be backed entirely by US dollar deposits, short-term US government treasuries, and other cash equivalents. Ripple CEO Confident on Launch According to an April 4 press release, these reserve assets would undergo audits by a third-party accounting firm, with monthly attestations to be published for public scrutiny. Brad Garlinghouse, Ripple’s CEO, expressed confidence in…

Tether, the world’s largest stablecoin issuer, bought another 8,889 BTC. The latest purchase is valued at around $627 million, bringing its Bitcoin holdings to 75.354K BTC. Overall, the company now has $5.26 billion worth of Bitcoin reserves, according to the data compiled by Arkham Intelligence. Bitcoin Holdings Tether first bought Bitcoin in September 2022. Later on, in May 2023, reaffirmed its intentions to accumulate the cryptocurrency, citing its potential as an investment asset and also to reduce reliance on cash…

Have you heard of stablecoins, the digital currencies designed to maintain a stable value? Stablecoins have become increasingly popular, and many people consider them an attractive investment option. But what happens if a stablecoin loses its parity, and how does it impact investors?   Understanding the General Concept of Stablecoins Before discussing a stablecoin losing its parity, we first need to grasp how these tokens work. Stablecoins are cryptocurrencies tied to fiat currencies like the U.S. Dollar or Euro. This means…