San FranciscoRipple plans two legal issuers for one stablecoin.
A European holder’s redemption claim runs against a different entity than a US holder’s.
The EU’s Markets in Crypto-Assets law requires e-money-token issuers to hold reserves redeemable at par, a rule US frameworks don’t impose.
Ripple’s stablecoin chief pegs the corporate-treasury opportunity at $13 trillion a year, an unverified estimate.
Sources: CoinDesk