Ripple plans monthly attestation reports for transparency, though the auditing firm responsible has not been disclosed yet.
The stablecoin will be backed by U.S. dollar deposits, government bonds, and cash equivalents, ensuring stability.
Ripple, has announced its plan to launch a stablecoin pegged to the U.S. dollar. This move places Ripple in direct competition with the leading stablecoin providers, Tether and Circle, who manage the UDST and USDC tokens, respectively. 
The stablecoin market, where Ripple aims to make its mark, currently holds a valuation of $150 billion. Ripple’s stablecoin promises a one-to-one value ratio with the U.S. dollar, backed by a mix of U.S. dollar deposits, government bonds, and cash equivalents.
“Our view is, having pools of liquidity that are native to the XRP ledger, they complement and help grow the XRP ecosystem,” Garlinghouse told CNBC. “In fact, the number one request we get from the XRP community is to launch a USD-backed stablecoin on th

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