Ripple Mints Additional RLUSD Tokens as Market Momentum Builds

Ripple Mints Additional RLUSD Tokens as Market Momentum Builds

Ripple has issued an additional 350,026 Ripple USD (RLUSD) tokens, marking the first minting activity in over a week. This move follows last week’s record-breaking issuance of 100 million RLUSD, underscoring the growing momentum behind the stablecoin.

According to data from CoinGecko, the total market capitalization of RLUSD is now nearing the $300 million threshold.

In a significant strategic move, Ripple recently acquired prime brokerage firm Hidden Road for $1.25 billion. The acquisition is poised to strengthen RLUSD’s utility, as the token will be leveraged as collateral across a range of the brokerage’s financial products.

Ripple has expressed confidence in RLUSD’s trajectory, aiming for the stablecoin to rank among the top five globally by year-end. Adding to its adoption, RLUSD was listed earlier this month on Kraken, one of the world’s leading cryptocurrency exchanges.