Ripple’s newly launched USD-pegged stablecoin, RLUSD, has officially entered the Aave V3 Ethereum core market, thus expanding its utility for both institutional and decentralized finance (DeFi) users. With an initial supply cap set at 50 million and a borrowing limit of 5 million, RLUSD is positioned to enhance liquidity within the DeFi ecosystem. While current market activity shows a 0% utilization rate and no recorded borrowing, the stablecoin boasts a market capitalization exceeding 2.93 billion USD and a total trading volume of 10 billion USD.
Targeting the enterprise application sector, Ripple has seamlessly integrated RLUSD within its payment systems to facilitate cross-border transactions. The introduction of RLUSD on Aave V3 signifies a strategic move to broaden its DeFi footprint. Moreover, anticipated liquidity mining initiatives and structured interest rates are forecasted to draw increased participation, enhancing user engagement in the DeFi landscape.
Source: https://en.coinotag.com/breakingnews/ripple-launches-rlusd-stablecoin-on-aave-v3-paving-the-way-for-defi-adoption/