Let ’er rip
Ripple Labs said it plans to launch a stablecoin pegged to the US dollar later this year.
The crypto and tech business would be entering a crowded market dominated by heavyweights Tether and Circle.
Ripple’s not the only company to get bitten by the stablecoin bug. Last year fintech superstar PayPal’s launched its own stablecoin, PYUSD. One possible reason: the stablecoin business is seen as a particularly high margin, lucrative venture.
That could come in handy for Ripple. The company has been fighting regulators for years over its $32B+ market cap XRP token, and last week said the SEC wants it to pay $2B in fines and penalties.
That could come in handy for Ripple. The company has been fighting regulators for years over its $32B+ market cap XRP token, and last week said the SEC wants it to pay $2B in fines and penalties.
