rewrite this content using a minimum of 1000 words and keep HTML tags
The XRP Ledger (XRPL) added three stablecoins, EURØP, USDB, and XSGD, to its ecosystem this week.
According to the announcements, each of the tokens is backed by fiat currencies and will reinforce XRPL’s role in the fast-evolving global stablecoin market.
Notably, XRPL is fast becoming a top choice for stablecoin issuers and institutional players due to the network’s features, including low fees, fast transaction speeds, scalability, built-in regulatory tools, and native support for real-world asset tokenization.
MiCA-compliant stablecoin launches on XRPL
On May 22, EURØP, a euro-pegged stablecoin issued by Schuman Financial, joined XRPL as part of a broader push to support MiCA-compliant digital assets in Europe.
Schuman Financial, licensed by the French central bank, ensures EURØP is fully backed by reserves held in major European banks and audited by KPMG.
Martin Bruncko, the firm’s CEO, stated that XRPL provides the scalability and security required for euro-denominated innovation on the blockchain.
He added:
“This will give Europe and euro-denominated financial markets an integral infrastructure for the next wave of financial innovation, which is happening on-chain.”
Brazilian and Singaporean stablecoins
On the same day, Brazilian fintech firm Braza Group revealed that it launched USDB, a US dollar-backed stablecoin, on XRPL. USDB will complement Braza’s earlier token, BBRL, which is already live on XRPL.
Braza CEO Marcelo Sacomori noted that USDB gives Brazilian users a new tool for hedging against currency volatility while enabling faster digital transactions.
Sacomori said:
“We believe that by the end of next year, USDB could account for about 30% of Brazil’s USD-pegged stablecoin market. This will be driven not only by our established presence but also by the creation of new pathways for global currency settlement.”
Rounding out the trio, Singapore dollar-pegged XSGD, issued by StraitsX, went live on XRPL on May 19. StraitsX is a leading digital payment infrastructure provider in Southeast Asia.
According to the statement, XSGD is backed one-to-one with reserves held at DBS Bank and Standard Chartered.
The asset will allow financial institutions, startups, and developers to access fast and cheap payments on a blockchain built for real-world utility.
Liu Tianwei, Co-Founder and Deputy CEO at StraitsX, said:
“As digital money becomes embedded in the global economy, regulated stablecoins like XSGD will serve as the foundation for borderless, real-time, and compliant-ready financial services.”
and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this
Source link
