XRP, the cryptocurrency behind the Ripple payment network, had a surprisingly good week. While the broader crypto market saw a slight dip, XRP jumped over 15% in a single day. This surge followed a big announcement: a major bank is bringing its stablecoin to the XRP Ledger (XRPL).
A Bank Chooses XRP
Societe Generale, a large French bank, revealed plans to add its euro-pegged stablecoin, EUR CoinVertible (EURCV), to the XRPL. The EURCV is already available on other platforms like Ethereum and Solana, and complies with strict new European Union regulations (MiCA) designed to prevent financial crime.
Societe Generale chose the XRPL because they believe it offers the best combination of transparency, security, and scalability for their digital assets. They see it as a perfect platform for the next generation of compliant digital currencies.
XRP’s Impressive Run
At the time of writing, XRP is trading around $0.89, a significant increase – about 60% higher than a week ago. This shows the positive market reaction to the news.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, so always do your own research before investing.
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