Mainstream stablecoin ecosystem Stably USD (USDS) partners with Ripple to release Dollar-pegged stablecoin on XRPL
Veteran blockchain platform XRP could be the next addition to the array of Ledger networks that support USDS, a multi-protocol stablecoin regulated by Stable USD.
Stably partners with Ripple, expands USDS stablecoin to XRP Ledger
According to the official announcement shared by blockchain compaby Stably, it has inked a partnership with U.S.-based digital payments giant Ripple.
With this partnership, Ripple is ready to provide all necessary technical support for the implementation of the Stable USD (USDS) blockchain on the XRP Ledger (XRPL) platform.
New XRPL-based stablecoin will be issued under USD ticker. Thanks to its integration with U.S.-regulated banking institutions, Stably USD (USDS) will allow partners from 200 countries to seamlessly mint and claim their stablecoins on XRPL.
Stablely CEO Corey Hoang highlighted that this integration will be the first fiat-to-stablecoin integration for the XRP Ledger ecosystem, providing an entirely new experience for its B2B and B2C clients:
We are very excited to partner with Ripple and support our fiat-to-stablecoin gateway to the XPRL via USDS. Regulatory compliance, transparency, and security have always been Stably’s top priorities and we look forward to bringing more of these benefits to the XRPL community.
Bringing DeFi and TradFi tools together for maximum capital efficiency
As of Q4, 2022, Stable has already issued Stable USD (USDS) on several popular blockchains, including VeChain, Tezos, Harmony and Polymesh.
Also, it yielded investments from a clutch of high-profile VCs, such as Morgan Creek Capital and leading angel investors (CEO of CREAM Labs and VeChain).
With its toolkit of solutions – including the certified fiat-collateralized stablecoin USDS – stablecoin aims to build a holistic DeFi/TradeFi ecosystem of products for retail and entrepreneurial use in fintech.
