Another stablecoin, in my honest opinion i don't care about the xrp network or their liquidity, but my problem with stablecoins is if they are actually backed 1:1 and not just printed out of thin air like many fiat currencies, even if they will post audits regularly, i don't trust it. However, this stablecoin is going to face a lot of competition from already established stablecoins like usdt, usdc and dai, just as Paypal found out when they launched their own stablecoin.