Ripple’s stablecoin RLUSD has exceeded a $600 million market capitalization following the minting of 10 million tokens, marking a significant adoption milestone. This growth reflects institutional confidence and enhanced utility mechanisms within the ecosystem.
Bank of New York Mellon’s custodial services for RLUSD signal strong institutional trust in the asset, potentially attracting broader financial interest. Concurrently, Bluechip—an independent rating agency—has recognized RLUSD as a top-tier stablecoin, further cementing its credibility among digital assets.
To foster adoption, Doppler Finance has introduced an RLUSD vault allowing depositors to earn yields. This utility-focused innovation provides holders with passive income opportunities, driving broader usage of the stablecoin.
The market cap expansion has propelled RLUSD past Zcash (ZEC) in valuation, though it remains below leading stablecoins like USDX and Tether Gold (XAUT), indicating ongoing growth potential in the evolving stablecoin landscape.