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HomeCrypto NewsMarketUsers Can Now Trade USDT and USDC on Ripple’s XRPL DEX 

Users Can Now Trade USDT and USDC on Ripple’s XRPL DEX 


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Users Can Now Trade USDT and USDC on Ripple’s XRPL DEX.

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Ripple’s XRP Ledger (XRPL) decentralized exchange now offers trading support for two more stablecoins, Tether (USDT) and USD Coin (USDC) via the GateHub gateway. 

Following the support of USDT and USDC, XRPL DEX users can now exchange the stablecoins for Ripple’s native cryptocurrency, XRP. 

In a bid to celebrate the development, GateHub noted that users will not be required to pay any fee for the newly listed stablecoins while trading for the next 90 days.  

XRPL DEX’s Features Makes it Suitable for Stablecoins 

Interestingly, the XRPL DEX could gradually become a home for stablecoins in the near future. 

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Aside from USDC and USDT, which are pegged to the United States Dollars, plans are on the way to adding the first euro-backed stablecoin to the decentralized exchange.  

Commenting on the addition of USDT and USDC to the platform, David Schwartz, Ripple CTO noted that the XRPL DEX’s core features have made it the ideal destination for stablecoin issuers. 

According to Schwartz, in order to get a stablecoin listed on the platform, the issuer only needs to create an issuing account and set configuration options for the new account and the stable digital currency. 

Schwartz, who was one of the original architects of the XRP Ledger, noted that the solution was originally built for payments, allowing counterparties like the government, central banks, and stablecoin issuers the ability to settle transactions at a cheaper rate. 

Such counterparties are why one universally agreed-upon stablecoin is highly unlikely. There are a few reasons for this, but mainly because stablecoins have an issuer as a counterpart that does not allow them to interoperate across payment networks and jurisdictions,” Schwartz said in a Twitter post today. 


However, the Ripple CTO said counterparty-free digital currencies like the XRP and Bitcoin (BTC) provide a solution to this problem, as this asset class acts as a bridge for instant payments without the need of a counterparty. 

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Mark Brennan
Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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