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AMM Update, Ripple’s Possible Stablecoin, SEC Lawsuit
The post AMM Update, Ripple’s Possible Stablecoin, SEC Lawsuit appeared on BitcoinEthereumNews.com. Ripple is currently in the spotlight after a series of events for the crypto company, It is planning to enter the stablecoin market with SEC Tailgating. XRPLedger, the blockchain Ripple Labs developed, will get a major (automated market maker) AMM update on Thursday. All nodes need to upgrade to version 2.1.1 for the update to work. The XRPLedger grants program supports innovation and development of useful applications. Developers are welcome to apply. Ripple’s New Stablecoin To Launch Soon? Ripple has plans to enter the stablecoin market which is worth $150 Billion. It intends to achieve this by launching a digital coin that is pegged to the U.S. dollar. However, the initial launch is planned to take place in the U.S. Furthermore, the company may consider regional versions of the product in regions like Europe and Asia. Ripple claims that this new currency launch is in response to the temporary de-pegging of Tether’s USDT and Circle’s USDC. Moreover, it suggests that the market has some degree of uncertainty, and Ripple aims to benefit from it. The currency in question will be backed one-to-one with assets like cash equivalents, government bonds, and U.S. dollar deposits, as per Ripple. These reserves will be audited monthly, and the proof will be made available in reports that will be published publicly. However, the audit firm’s name has not been disclosed. On-Demand Liquidity Product The On-Demand Liquidity product is intended to enable quick settlement of transactions between financial institutions. Therefore, Ripple states that the stablecoin will be part of its On-Demand Liquidity product. The company has not been able to demonstrate to banks and payment processors how their coin can be useful so far. SEC Tailgating Ripple In The Crypto Race Investors are currently uncertain about the SEC vs. Ripple case, which is one of the…
The post AMM Update, Ripple’s Possible Stablecoin, SEC Lawsuit appeared on BitcoinEthereumNews.com.
Ripple is currently in the spotlight after a series of events for the crypto company, It is planning to enter the stablecoin market with SEC Tailgating. XRPLedger, the blockchain Ripple Labs developed, will get a major (automated market maker) AMM update on Thursday. All nodes need to upgrade to version 2.1.1 for the update to work. The XRPLedger grants program supports innovation and development of useful applications. Developers are welcome to apply. Ripple’s New Stablecoin To Launch Soon? Ripple has plans to enter the stablecoin market which is worth $150 Billion. It intends to achieve this by launching a digital coin that is pegged to the U.S. dollar. However, the initial launch is planned to take place in the U.S. Furthermore, the company may consider regional versions of the product in regions like Europe and Asia. Ripple claims that this new currency launch is in response to the temporary de-pegging of Tether’s USDT and Circle’s USDC. Moreover, it suggests that the market has some degree of uncertainty, and Ripple aims to benefit from it. The currency in question will be backed one-to-one with assets like cash equivalents, government bonds, and U.S. dollar deposits, as per Ripple. These reserves will be audited monthly, and the proof will be made available in reports that will be published publicly. However, the audit firm’s name has not been disclosed. On-Demand Liquidity Product The On-Demand Liquidity product is intended to enable quick settlement of transactions between financial institutions. Therefore, Ripple states that the stablecoin will be part of its On-Demand Liquidity product. The company has not been able to demonstrate to banks and payment processors how their coin can be useful so far. SEC Tailgating Ripple In The Crypto Race Investors are currently uncertain about the SEC vs. Ripple case, which is one of the…
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