Ripple, Developer Behind XRP Ledger, Enters Stablecoin Fray vs. Tether, USDC

The token will be “100% backed by U.S. dollar deposits, short-term U.S. government Treasuries and other cash equivalents.” according to the company. The token will be “100% backed by U.S. dollar deposits, short-term U.S. government Treasuries and other cash equivalents.” according to the company.