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3w ago

Ripple's RLUSD Stablecoin Sees $100M Issued in Days as Institutional Adoption Grows

The regulated stablecoin, now integrated into Ripple's cross-border payments system, is gaining traction with financial institutions and NGOs.

(Pixabay)
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Overview

  • Ripple's RLUSD stablecoin has issued over $100 million since April 1, reflecting surging demand and rapid market growth.
  • RLUSD's market capitalization has reached $244 million, marking an 87% increase over the past month.
  • The stablecoin is backed by U.S. dollar deposits, short-term Treasury securities, and cash equivalents, ensuring a 1:1 peg to the U.S. dollar.
  • Ripple has integrated RLUSD into its cross-border payments system, with adoption by financial institutions like BKK Forex and iSend to improve liquidity and streamline operations.
  • A new security feature on the XRP Ledger allows issuers to reclaim RLUSD tokens under specific conditions, enhancing regulatory compliance and institutional appeal.