Ripple Launches New Stablecoin Amid XRP Struggles

Ripple is launching a USD-backed stablecoin later this year as its XRP token struggles for adoption. The move suggests Ripple's business model around XRP is faltering.

While Ripple has touted partnerships, few major firms actually use XRP for payments and financial services in a meaningful way.

Ripple faces an uncertain future as its XRP sales remain contested by the SEC. This has been a key revenue stream.

Ripple's financial products are meant for back-end bank usage, but banks seem wary of crypto's compliance risks.

The move to a stablecoin echoes other crypto firms like Circle, suggesting it's a natural evolution in the crypto business lifecycle.