XRP Ledger (XRPL) Welcomes First Mortgage-Backed Stablecoin

The XRP Ledger (XRPL) has welcomed HOME, the first-ever mortgage-backed stablecoin on the network, introduced by the RWA protocol.

In an unprecedented move, the XRP Ledger (XRPL) welcomed an innovative stablecoin called HOME, backed by mortgages and introduced by the RWA protocol. 

This groundbreaking development promises to revolutionize the mortgage industry and unlock many exciting opportunities for market participants and homeowners. The arrival of HOME on the XRPL marks a significant milestone, as it becomes the first mortgage-backed stablecoin to grace the network. 

RWA protocol, the driving force behind the asset, leverages the power of blockchain technology to redefine the landscape of mortgage financing and provide individuals worldwide with flexible and accessible options.

The official Twitter handle of HOME Coin recently announced the XRPL launch, generating widespread attention and sharing a link to the official press release. 

RWA Protocol Brings the First Mortgage-Backed Stablecoin $HOME to the XRP Ledger https://t.co/F1CslnGlmD

— HOME Coin (@homecoinfinance) June 27, 2023

HOME’s Unique Features

What truly sets HOME apart from other stablecoins is its unique value proposition. Transparency lies at the core of this digital asset, allowing users to access crucial information about the underlying loans that back the coin directly on the blockchain. 

Users can delve into details such as the lien amount, location, and value of the underlying assets supporting the HOME stablecoin, differentiating it from conventional stablecoins that depend on external auditors for verification.

Additionally, HOME offers an attractive current return, ranging from 2% to 5%, generated through borrowers repaying their loans without any external incentives. This feature sets it apart from other stablecoins offering minimal or no returns yet relying solely on incentives.

To ensure the utmost security, the value of the assets backing HOME exceeds the loan amount by at least 30% on average. This ensures overcollateralization. In contrast, other stablecoins may hold a surplus of assets without guaranteeing overcollateralization.

In addition to the above features, HOME promotes decentralization. The homes behind the stablecoin are scattered across the United States, allowing any loan officer or institution to originate loans. 

HOME on the XRP Ledger

By launching HOME on the XRP Ledger, the RWA Protocol seeks to take advantage of the network’s speed, cost-effectiveness, and commitment to sustainability. Leveraging these unique characteristics, the RWA protocol aims to expedite the mortgage experience for consumers and homeowners.

Interested market participants can find HOME on the XRPL with the ticker HOM. Notably, HOME is not the first stablecoin launched on the XRP Ledger. However, its unique features set it apart from others. 

Stably USD (USDS) became the first USD-pegged stablecoin to launch on the XRPL last November. Most recently, Novatti Group launched the Australian Digital Dollar (AUDD) stablecoin on the network.