Ripple plans to launch a stablecoin, pegged 1:1 to the US dollar, later this year. The US-based crypto and blockchain solutions provider will make the stablecoin available on XRP ledger, which it developed, as well as the Ethereum blockchain — both public permissionless ledgers — with plans to expand over time.
The stablecoin will be backed by US dollar deposits and short-term government Treasuries, with all reserve assets audited by a third-party accounting firm, alongside monthly attestations.
