Ripple, a blockchain firm, announced the launch of a U.S. dollar stablecoin, entering the $150 billion stablecoin market and positioning itself against major players like Tether and Circle. This stablecoin will be initially available in the U.S., with potential future expansions into markets like Europe and Asia. It is designed to be always backed 1-to-1 by assets such as U.S. dollar deposits, government bonds, and cash equivalents, with monthly attestation reports on reserves, though the auditing firm has not been named. The launch marks Ripple's response to instances where Tether's USDT and Circle's USDC temporarily lost their $1 peg due to market instabilities. Ripple CEO Brad Garlinghouse emphasized the company's regulated status in various jurisdictions as a competitive advantage, amidst some market uncertainty about the reserve backing of existing stablecoins like Tether. Additionally, the article discusses Ripple's ongoing commitment to its cryptocurrency, XRP, highlighting its use in Ripple's On-Demand Liquidity product for rapid transaction settlements. Despite challenges in establishing XRP with banks and payment firms, Ripple views the new stablecoin as complementary to the XRP ecosystem. The launch is partly driven by community demand for a USD-backed stablecoin on the XRP Ledger. The piece also touches on Ripple's legal challenges with the U.S. Securities and Exchange Commission (SEC), stemming from allegations of illegal sales of XRP. A recent court ruling found that XRP is not a security, though some sales to institutions were deemed unlawful. Ripple anticipates a settlement with the SEC in the "millions," significantly lower than the $2 billion sought by the regulator. Join this channel to get access to perks: https://www.youtube.com/channel/UCftTNVk6GO6u0m7WkhJEr1w/join It's time to stop the confusion. Join Us!!! Follow us on our 2nd Youtube Channel for stocks: https://www.youtube.com/channel/UCvpS3H_mKa2oMCfWZolDrjw Follow us on Twitter @HueFin_News Follow us on Instagram - huefinnews Follow us on Facebook - HueFin News Inquiries: contact us at huefinnews@gmail.com Here at HueFin News we will show you that you do not need to buy expensive charting software or use indicators to understand where the market is going. The cryptocurrency market, stock market, and commodities market all speak through the charts. It is a language and it is spoken through volume and bars. It is our purpose to give you market analysis and news that is not confusing. In order to be a profitable trader you have to PREDICT with HIGH CONFIDENCE where price is LIKELY to move. Understanding market language will allow you see where price is going to move with high precision. That's why we are giving you news (before it happens) according to the charts. Make sure you subscribe to this channel to get a better understanding of the market without indicators, shapes, patterns, or expensive software. Also, leave a comment if you have any questions. HueFin News will also speak on topics that are important to you. Some topics include: cryptocurrency news, gold, silver, oil, fiat currencies, fintech, stocks, economic metrics, day trading, swing trading, FOREX, and many other topics that we feel is vital to your profitability in the financial markets. **This is not investment advice** **Trading involves risk** **This is for educational purposes only** #ripple #xrp #xrpcrypto ... https://www.youtube.com/watch?v=w9B1Xrk2kT4

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