RIPPLE USD Stablecoin, RLUSD expanded its supply in July, with 122,500,000 tokens being created this month.
Over the past week, 45 million people have been built on their own, and on July 23rd, 25,000,000 RLUSD were minted by the RLUSD Ministry of Finance. According to the Ripple Stablecoin tracker, 20,000,000 RLUSD was cast on July 25th.
The increase in supply highlights the increased demand for RLUSD on exchanges and Defi protocols, where demand for stability plays a key role in liquidity and trading volume.
RLUSD is fully supported with 1:1 equivalent to US dollars and cash, and is built for defi, payments and applications.
Ripple USD has recently been listed on PDAX, the Philippines’ leading BSP licensed cryptocurrency exchange. Bluechip also gave RLUSD an A rating, recognising it as the most reliable stubcoin on the market.
RLUSD Stablecoin’s market capitalization is approaching $600 million, currently at $577 million. Over the past 24 hours, Ripple USD trading volume has increased by 129% to $58.34 million.
Ripple presses adoption of RLUSD
Ripple helps Stablecoin use the mainstream of a wider range of applications. In its first initiative, Ripple recently announced its $25 million philanthropic commitment to using RLUSD to fund leading education nonprofits.
Stablecoins are digital assets aimed at maintaining stable value. They are usually tied to Fiat currencies such as USD and EUR, minimizing the volatility that other cryptocurrencies are known to other known cryptocurrencies, and provide a stable and viable alternative to everyday trading.
Stablecoin remittances as a use case contribute to a general increase in Stablecoin adoption, with the average supply of circulating Stablecoins increasing by around 28% year-on-year. The total Stablecoin transfers reached $27.6 trillion in 2024, surpassing the total trading volume of Visa and MasterCard.
