Circle CEO praises Ripple for launching own stablecoin on XRP
Jeremy Allaire, the CEO of stablecoin issuer Circle, has welcomed Ripple’s entrance into the market. Earlier today, crypto firm Ripple revealed plans to launch a stablecoin that would be 100% backed by US dollar deposits, government bonds, and cash equivalents. Circle is the issuer of USD Coin (USDC), the second-largest stablecoin by market capitalization. The firm’s asset is enjoying a renaissance, emerging as the best-performing among major stablecoins during the year’s first quarter.
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