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Ripple has expanded its stablecoin footprint by minting 5 million new RLUSD tokens on the Ethereum blockchain, pushing its market cap beyond $500 million.
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This milestone reflects Ripple’s strategic growth in the stablecoin sector, emphasizing transparency and regulatory compliance through partnerships with established financial institutions.
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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.
Ripple’s RLUSD Stablecoin Surpasses $500 Million Market Cap Amid Increased Issuance
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.
Bluechip’s A Rating Validates RLUSD’s Market Credibility and Investor Confidence
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.
BNY Mellon Partnership Enhances RLUSD’s Custodial Security and Compliance
Ripple’s collaboration with BNY Mellon, a globally respected custodian of securities, adds a critical layer of security and regulatory compliance to RLUSD’s reserve management. By entrusting reserve custody to BNY Mellon, Ripple aligns with best practices in financial oversight, fostering greater transparency and investor protection. This strategic partnership reflects Ripple’s commitment to integrating traditional financial rigor within the decentralized stablecoin framework.
Support for the GENIUS Act Signals Ripple’s Advocacy for Regulatory Clarity
Ripple’s endorsement of the recently signed GENIUS Act highlights its proactive stance on fostering regulatory certainty for stablecoins in the United States. CEO Brad Garlinghouse has described the legislation as historic, emphasizing its potential to create a clear and supportive environment for digital asset innovation. This legislative backing is expected to facilitate broader institutional participation and long-term stability in the stablecoin market.
Conclusion
Ripple’s strategic expansion of RLUSD through increased token issuance, top-tier ratings, and partnerships with established financial custodians underscores its ambition to lead in the stablecoin arena. The company’s support for regulatory frameworks like the GENIUS Act further positions RLUSD as a compliant, transparent, and reliable digital asset. As the stablecoin market continues to mature, Ripple’s approach offers a compelling model for integrating regulatory standards with blockchain innovation.
