Tag: Stablecoins
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Introducing Open USD
Today we’re announcing Open USD, a new stablecoin for global money movement. Stablecoins are being rapidly adopted for their speed, cost, and programmability, with transaction volume approaching that of the ACH network. [1] At the same time, businesses still face significant hurdles: fees to mint and redeem most stablecoins are prohibitively expensive at larger volumes;…
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XRP Ledger and Birth of Institutional Stablecoins
In 2019 I sat in a closed meeting in London that I will never forget. It was held in a private consultation room at the Bank of England’s Threadneedle Street complex. Present were senior representatives from Barclays, Santander, Deutsche Bank, BNP Paribas, and a policy advisor from the ECB’s Directorate General for Market Infrastructure. Ripple’s…
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Canada is Moving Forward on a Framework for Stablecoins
With the recent Royal Assent of Bill C-15, Canada is moving forward on a framework for stablecoins. The Department of Finance has begun the development of regulations to support safe, reliable digital payment options for Canadians. Finance Canada announced Royal Assent of Bill C-15, launching a regulatory framework for fiat-backed stablecoins issued by non-bank entities…