Ripple plans to build assets on XRPL and Ethereum. Can future stablecoins defeat USDT?

Ripple's Chief Technology Officer, David Schwartz, posted a mysterious tweet that caught the attention of the XRP community. He shared a photo of a company logo placed behind a store window with the word "Sunscream" on it. The XRP community quickly responded to Schwartz's tweet, sharing their associations with the word "scream". However, many people began asking about the price of XRP and Ripple's future stablecoin in comments, overlooking the content of the tweet itself.

Earlier this week, Ripple announced plans to launch a comprehensive stablecoin pegged to the US dollar which caused quite a stir in cryptocurrency communities. According to Ripple’s press release, not only will this new asset be fully backed by US dollar deposits but also other cash equivalents. These funds will be audited by an accounting firm specifically hired for this task and Ripple will issue statements monthly. Currently valued at $150 billion USD, it is expected that within four years its scale could exceed an astonishing $2.8 trillion USD. With its extensive experience building financial solutions for major global financial institutions under its belt, Ripple hopes to meet this growing demand and introduce its own stablecoin into market circulation.The stablecoin is planned to operate on both XRP Ledger and Ethereum blockchain platforms with future expansion plans onto other blockchains and DeFi applications.