Ripple Launches New Stablecoin Backed by US Dollars and Treasuries, With Monthly Audits, Aiming for Enterprise and Bank Adoption

• Ripple introducing new stablecoin pegged to US dollar, to be fully backed by dollar deposits and short-term US Treasuries

• Aims to differentiate through complete transparency - monthly public audits by top accounting firm

• Sees large, fast-growing stablecoin market - over $150B now, forecasted to exceed $2.8T by 2028

• Partly opportunistic move to tap into booming market, could also help XRP Ledger's DeFi ecosystem

• Targeting enterprise clients and banks with "compliance-first mindset", using US banks to hold reserves