Ripple USD Crosses $527 Million With 10 Million RLUSD Quietly Minted

Key Points

1. Ripple USD (RLUSD) has a market valuation exceeding $527 million, with 10,000,000 RLUSD minted in the last 24 hours.

2. The GENIUS Act has established a regulatory framework for stablecoins, requiring them to be backed by liquid assets and to disclose reserve compositions regularly.

3. The stablecoin market is valued at over $264 billion and is projected to grow to $2 trillion by 2028 under the new law.

4. Ripple announced Bank of New York Mellon as the primary custodian for RLUSD reserves, enhancing regulatory compliance.

5. Stablecoins are expected to become widely used for payments due to their steady value, typically pegged 1:1 to the U.S. dollar.