All set for Ripple to launch stablecoin after acquiring Standard Custody & Trust Company. This move aims to enhance the position of USD stablecoin as a part of the firm. The Ripple XRP Stablecoin comes after the successful completion of Standard Custody Acquisitions & Trust Company, a regulated digital asset custodian.
The most recent acquisition by Ripple of Standard Custody & Trust Company advances its goal of incorporating blockchain technology into the international financial system. With this move, Ripple’s extensive licensing portfolio—including almost forty U.S. state money transmitter licenses, a Major Payment Institution License from Singapore, and a VASP registration with the Central Bank of Ireland—gains another reliable, regulated organization.
With this acquisition, Ripple is taking a big step toward achieving its goal of leveling up its blockchain & digital asset technologies to improve enterprise infrastructure solutions. These technologies enable more efficient tokenization, storing, transferring, and trading of value for institutional clients.
Additionally, the acquisition allows Ripple to investigate new products, such as its upcoming Ripple XRP stablecoin backed by the USD. By bridging the gap between traditional finance and blockchain, this initiative aims to cater to the increasing demand for stablecoins and meet the criteria of reliability, stability, and practicality.
As per the Ripple XRP News, The appointment of Jack McDonald as Ripple’s Senior Vice President of Stablecoins is another noteworthy aspect. The strategic goal of Ripple to introduce its stablecoin is in line with this appointment. McDonald will stay in his position as Standard Custody’s CEO in the interim.
“2 major acquisitions in ~1 year under Ripple’s belt with Metaco and Standard Custody, and a big welcome Jack McDonald! Jack is no stranger to the XRPL ecosystem (and to me!) – thrilled to have him join team Ripple, leading our stablecoin initiatives.”, wrote Ripple CEO
Benefits Of Ripple XRP Stablecoin
- Ripple’s acquisition of Standard Custody & Trust Company opens new doors for exploring unique product offerings, including its forthcoming USD-backed stablecoin.
- The stablecoin initiative seeks to bridge blockchain & traditional finance, concerning the growing demand for stablecoins emphasizing trust, stability, and utility.
- Integration of stablecoin features with Ripple’s XRP payment solutions aims to offer holistic digital asset services to enterprise clients.
- This acquisition and the upcoming stablecoin launch reflect Ripple’s commitment to innovation, regulatory adherence, and the progress of blockchain technology in finance.
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