Ripple’s CTO is talking about a game-changing move that will revamp the crypto landscape. In this context, he hints that Ripple’s stablecoin will probably enter the market in June. Ripple’s stablecoin will bridge the gap between traditional finance and crypto markets. Thus, it will pave the way for new opportunities.

Ripple will launch stablecoin in June!

Ripple CTO David Schwartz hinted at a major development. This has partly contributed to the rise of the local cryptocurrency XRP. Meanwhile, amid rising expectations, Ripple’s stablecoin project is poised to revolutionize the cryptocurrency world. Notably, with details revealed at the recent XRP Las Vegas conference, investors and enthusiasts alike are excited. Now, they are eagerly awaiting the launch, scheduled for June.

Anticipation for Ripple’s stablecoin launch has been building since early April, when the company announced its launch plan. Cryptocoin.comRipple CEO Brad Garlinghouse announced the company’s venture into the stablecoin space, citing solid regulatory compliance, financial strength and a global network as the foundation. Furthermore, the Ripple CEO said in early April that the upcoming US dollar stablecoin will be backed by a mix of US dollar deposits, government bonds and cash equivalents in a 1-to-1 ratio, providing stability and security for users.

Ripple’s CTO shares tips

However, at the XRP Las Vegas conference, Ripple’s CTO David Schwartz revealed exciting details about the highly anticipated stablecoin project. Although the details remain confidential, Schwartz hinted that an announcement will be made soon during the XRPL Apex event to be held in Amsterdam on June 11-13.

Notably, this announcement ignited excitement in the XRP community and the broader crypto space. It signaled a potential game-changer for Ripple and the XRP Ledger ecosystem. In addition, the stablecoin will reduce volatility risks. Accordingly, it will appeal to institutions seeking exposure to digital assets.

What’s next?

Ripple will back the stablecoin with US dollar deposits and short-term government paper. Thus, the company aims to provide a reliable bridge between traditional finance and the growing crypto market. The stablecoin will leverage XRP Ledger’s inherent strengths, such as decentralized exchange capabilities and AMM. Thus, it promises to open new avenues for institutional and decentralized finance (DeFi) applications.

Incidentally, this hint comes amid a recovery in the broader cryptocurrency market. In addition, a recent report from Matrixport showed a steady increase in stablecoin inflows despite Bitcoin’s consolidation since April.