Ripple has minted 3.2 million RLUSD stablecoins at its RLUSD Treasury on January 29, following the issuance of 1.05 million RLUSD the previous day. This latest minting adds to the growing supply of Ripple’s U.S. dollar-pegged stablecoin as the company continues expanding its ecosystem.
Ripple’s RLUSD Witnesses Major Expansion
RLUSD has been integrated into the Margex trading platform, allowing traders to use it as collateral. The move broadens its market presence, particularly in cross-border transactions and risk management. Margex has also introduced TradingView’s advanced charting tools, offering over 100 technical indicators and multiple charting features. Additionally, the platform now supports instant deposits and withdrawals for Dogecoin (DOGE), adding to existing options like Kaspa (KAS) and Toncoin (TON).
The stablecoin is already listed on exchanges such as Bitstamp, Uphold, and Bullish. Ripple is working on securing listings on major platforms like Binance and Coinbase, with executives anticipating increased institutional demand in 2025.
An independent audit by BPM has verified that RLUSD maintains a 1:1 peg to the U.S. dollar, backed by $83.21 million in reserves. The assets supporting RLUSD include U.S. Treasury bills, government money-market funds, and cash deposits. These reserves ensure that the stablecoin remains fully collateralized and compliant with regulatory standards.
The recent expansion of RLUSD’s adoption highlights Ripple’s ongoing efforts to position its stablecoin as a key player in the digital asset market. Moreover, the stablecoin is set to be used as a payment in several cross-border transactions with growing adoption lately.
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Source: https://www.cryptonewsz.com/ripple-3-2-million-rlusd-as-adoption-expands/