Ripple has expanded its stablecoin footprint by minting 5 million new RLUSD tokens on the Ethereum blockchain, pushing its market cap beyond $500 million.
This milestone reflects Ripple’s strategic growth in the stablecoin sector, emphasizing transparency and regulatory compliance through partnerships with established financial institutions.
According to COINOTAG, RLUSD’s A rating from Bluechip underscores its position as a leading enterprise-grade stablecoin in the evolving crypto market.
Ripple’s RLUSD stablecoin surpasses $500M market cap after minting 5M new tokens, earning top Bluechip rating and securing reserves with BNY Mellon.
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Ripple’s recent minting of 5 million RLUSD tokens on Ethereum marks a significant expansion in the stablecoin’s supply, bringing the total issuance in July to 77.5 million tokens. This growth has propelled RLUSD’s market capitalization to approximately $533 million, positioning it among the top 200 digital assets globally. The stablecoin’s 1:1 peg to the US dollar, backed by securely held reserves, reinforces its reliability and appeal to institutional investors seeking stable digital assets.
RLUSD’s recognition by Bluechip with an A rating—the highest awarded to any stablecoin under their coverage—signals robust trust in its stability and governance. This independent endorsement enhances RLUSD’s reputation, encouraging broader adoption within the crypto ecosystem. Bluechip’s evaluation criteria focus on transparency, reserve backing, and regulatory adherence, all areas where RLUSD has demonstrated strong performance, further differentiating it from competitors.
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Source: https://en.coinotag.com/ripple-mints-5m-new-rlusd-on-ethereum-as-stablecoin-market-cap-surpasses-500m/