Ripple will issue a stablecoin pegged to the price of the U.S. dollar. The token, scheduled to be launched later this year, will be “100% backed by U.S. dollar deposits, short-term U.S. government Treasury securities and other cash equivalents,” the company said. The stablecoin will be deployed first to Ripple’s institution-focused XRP Ledger as well as the Ethereum blockchain and will be based on Ethereum’s ERC-20 token standard. (CoinDesk)