Ripple Labs is set to launch a USD-pegged stablecoin later this year, aiming to tap into the booming stablecoin market, which is currently valued at around $150 billion and is projected to exceed $2.8 trillion by 2028. The new stablecoin will be pegged 1:1 to the USD and supported on both the XRP Ledger and Ethereum. This move positions Ripple to compete directly with major players like Circle and PayPal in the stablecoin space. Meanwhile, PayPal has integrated the $PYUSD stablecoin for international transfers on its Xoom platform, allowing US customers to use stablecoin for international payments. This development underscores the growing integration of stablecoins in mainstream financial services.