Dear Shareholders, Advisors, and Friends,

I hope this message finds you well. While I'm preparing my customary quarterly update for next month, I simply couldn't wait to share some thrilling news from Team Ripple. This morning, we proudly announced our intention to introduce a USD-backed stablecoin later this year. We firmly believe this initiative will significantly enhance the utility and liquidity of the XRP Ledger. Below, I'll provide a succinct overview, but for more in-depth information, please visit our blog [link here]. Here's What's on the Horizon: Ripple's stablecoin will be pegged 1:1 to the US dollar and backed entirely by USD deposits, short-term US government treasuries, and other cash equivalents. Rest assured, these reserve assets will undergo meticulous auditing by a reputable third-party accounting firm, with Ripple committing to monthly attestations. Now, you're probably wondering what we'll name it or what ticker symbol it will bear—well, we're still deliberating, so stay tuned for updates! Why This Has Us Excited: As I recently mentioned in a tweet, this endeavor represents a natural progression in bridging the gap between traditional finance and crypto. Moreover, the timing couldn't be more opportune. With the stablecoin market currently valued at around $150 billion and projected to
exceed $2.8 trillion by 2028, there's an evident demand for a stablecoin that embodies trust, stability, and utility—a demand that aligns perfectly with Ripple's compliance-first mindset. Expanding Horizons: Beyond its immediate benefits, introducing a trusted, enterprise-grade stablecoin to the XRPL promises to unlock myriad opportunities within the broader ecosystem. Stablecoins serve as vital gateways to decentralized finance (DeFi), and seamlessly integrating one into XRPL will catalyze the proliferation of use cases, liquidity, and developmental opportunities for both creators and users seeking to leverage the advantages of XRPL. Recognizing the inevitability of a multichain crypto landscape, we'll be launching this asset simultaneously on XRPL and Ethereum to facilitate enhanced
cross-chain functionalities. What's on the Agenda: Once the stablecoin is live, we intend to leverage both XRP and the stablecoin synergistically in our payment solutions, with the primary goal of enhancing the customer experience.
This also marks a significant step forward as we become the first enterprise to deploy this asset on a scale. Notably, we've already identified demand from Ripple's clientele in emerging markets for stablecoin payouts. Looking Forward: A dedicated, cross-functional team at Ripple has been diligently working on this
project and remains committed to delivering it this year. Stay tuned for further updates! For more insights, feel free to peruse coverage from Bloomberg, CNBC, Decrypt, The Financial Times, The Wall Street Journal, and other reputable sources.

Warm regards,
Roger V. Coleman

Coleman Group Partners, LLC