XRP Defies Crypto Market Cool Down and Surges by More Than 10% Amid New XRPL Stablecoin Announcement
The payments altcoin XRP defied a brief crypto market cooldown and surged by more than 15% in 24 hours to close out Friday.
The asset’s gains materialized after the French bank Societe Generale (SocGen) announced a plan to deploy its euro-pegged stablecoin, the EUR CoinVertible (EURCV), on the XRP Ledger (XRPL).
The multinational bank launched the EURCV on the Luxembourg-based crypto exchange platform Bitstamp last year. The stablecoin first deployed on Ethereum (ETH). Months later, the bank announced plans to launch it on Solana (SOL).
The euro-pegged crypto asset is compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCA). MiCA provides rules covering the supervision, consumer protection and…
