Ripple challenges industry giants with new stablecoin

Crypto firm Ripple launched a stablecoin pegged to the US dollar last week, looking to disrupt a market in which the top two incumbents account for nearly 90 per cent of the value.

The venture marks a major milestone for Ripple, coming more than a year after a landmark win in a case against the Securities and Exchange Commission last year.

However, it will face the uphill task of elbowing into a concentrated market where the two biggest players – Tether and USD Coin (USDC) ...