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He also explained why he believes it will be a success, while such popular USD-backed stablecoins as USDT and USDC have already existed in the market for many years. TheIn particular, Merrick spoke about the sector he is in charge of, and part of it is Dubai where, recently, the Crypto Expo Dubai 2024 event took place.
Ripple now, according to Merrick, believes that there is a great need for a regulated USD-backed stablecoin to emerge on the market since around 60% of all settlements outside the U.S., including the Middle East region, are made in U.S. dollars.
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