💨 Abstract

Ripple has launched a stablecoin, RLUSD, pegged to the U.S. dollar to compete in a market dominated by Tether and USD Coin. The new stablecoin will be backed by U.S. dollar deposits, government bonds, and cash equivalents. Sheila Bair, former chair of the Federal Deposit Insurance Corp, has been appointed to RLUSD's advisory board.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖