Ripple’s dollar-pegged digital asset, RLUSD, is rapidly expanding its footprint in the stablecoin arena.
With over 77 million new tokens minted just in July, the token’s total market value has surged past the $500 million threshold.
Much of this momentum stems from a growing wave of institutional validation. Independent ratings agency Bluechip has given RLUSD an “A” grade—now the highest among stablecoins—cementing its reputation in a competitive field. Simultaneously, Ripple has entrusted BNY Mellon, the world’s leading securities custodian, to manage the reserves backing the asset.
The RLUSD expansion aligns with a broader shift in U.S. regulation following the enactment of the GENIUS Act, a legislative move celebrated by Ripple as a turning point for stablecoin oversight. CEO Brad Garlinghouse described the new law as a milestone for the industry, offering much-needed clarity for companies building in the space.
Ripple’s stablecoin play now seems primed to challenge incumbents, blending top-tier ratings, regulatory tailwinds, and elite financial infrastructure to fuel its growth in the months ahead.
Alexander Zdravkov
Reporter at Coindoo
Alexander Zdravkov is a person who always looks for the logic behind things. He is fluent in German and has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
Source: https://coindoo.com/ripple-mints-millions-more-rlusd-tokens-amid-growing-institutional-backing/