Recently, the OCC released guidance that national banks and FSAs can conduct payment activities via blockchain infrastructure and stablecoins. This is a massive step forward in the domestic payments space of the United States. David Schwartz, CTO of Ripple Labs, made a proposal for the issuance of stablecoins on the XRP Ledger. It is important to note that this would be a stablecoin that is present on-chain. Some of the highlights include using XRP as collateral for the stablecoin, over-collateralizing the issuance, and changes in price of XRP relative to other assets. See the video below for a complete overview from David Schwartz:

Video Date: 10/8/19