Ripple, the developer behind the XRP Ledger, is entering the booming stablecoin market with a new offering pegged 1:1 to the USD, set to launch later this year amid a crypto market revival. This move positions Ripple against major players like Tether, USDC, Circle, and PayPal in the rapidly expanding stablecoin sector, which is currently valued at around $150 billion and is projected to grow to over $2.8 trillion by 2028. In related developments, PayPal has announced that its 'Xoom' platform now supports funding with its $PYUSD stablecoin, enabling US customers to use the stablecoin for international payments without transaction fees to 160 countries. This innovation marks a significant shift in the digital payments landscape, highlighting the increasing competition and innovation within the stablecoin market.