Ripple’s RLUSD Stablecoin Surpasses $600 Million Market Cap Amid New Partnerships and Enhanced Adoption Tools
Main Idea
Ripple’s RLUSD stablecoin has surpassed a $600 million market cap, supported by new partnerships, institutional backing, and enhanced adoption tools.
Key Points
1. RLUSD's market cap exceeded $600 million after minting 10 million tokens, indicating strong adoption.
2. Bank of New York Mellon serves as a custodian for RLUSD, signaling institutional confidence and potential for further interest.
3. Independent rating agency Bluechip recognized RLUSD as a top-tier stablecoin, enhancing its credibility.
4. Doppler Finance introduced an RLUSD vault, allowing users to earn yields by depositing the stablecoin.
5. RLUSD recently surpassed Zcash (ZEC) in market cap but still trails behind other stablecoins like USDX and Tether Gold (XAUT).
Description
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