Ripple will issue a US dollar stablecoin

ChainCatcher news, according to CoinDesk, Ripple will issue a dollar-backed stablecoin.

The company stated that the token is planned to be issued "later this year" and will be "100% backed by dollar deposits, short-term U.S. government bonds, and other cash equivalents." The stablecoin will first be deployed on Ripple's institution-focused XRP Ledger and the Ethereum blockchain, and will be based on the Ethereum ERC-20 token standard.