Ripple Mints 5M New RLUSD on Ethereum as Stablecoin Market Cap Surpasses $500M
Main Idea
Ripple's RLUSD stablecoin has surpassed a $500 million market cap after minting 5 million new tokens, earning a top Bluechip rating and securing reserves with BNY Mellon, while also supporting regulatory frameworks like the GENIUS Act.
Key Points
1. Ripple minted 5 million RLUSD tokens on Ethereum, increasing its total supply to 77.5 million and pushing its market cap to approximately $533 million.
2. RLUSD received an A rating from Bluechip, the highest rating for governance, enhancing its credibility and adoption potential.
3. BNY Mellon's partnership with Ripple ensures secure and compliant reserve management for RLUSD.
4. Ripple supports the GENIUS Act, advocating for clearer regulatory frameworks in the U.S. crypto industry.
5. RLUSD's growth and regulatory alignment position it as a leading stablecoin in the digital asset market.
Description
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