TL; DR
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Ripple is creating its own stablecoin, which they claim will be at the top of industry standards in terms of traceability, stability and regulatory compliance.
Full story
Ripple, the company that issues $XRP, just said they are about to launch their own stablecoin.
But do we really need another stablecoin?
Currently, the stablecoin market is dominated by $USDT and $USDC.
$USDC has a phenomenal reputation for transparency and regulatory compliance (really). put everything online).
$USDT, on the other hand, has received a lot of criticism for the opaqueness of its shares, but because it is tradable almost everywhere, people still choose it.
So what does adding a new stablecoin do for you?
If you’re an
XRP ownership or not, healthy competition in the stablecoin market never hurt anyone.
And Ripple comes in! They said they are ready to be at the top in traceability, stability and regulatory compliance.
So big picture:
We do need another stablecoin? Not really.
We do want to another stablecoin? Of course why not! It can’t hurt.