Ripple has significantly increased the supply of its stablecoin RLUSD by issuing 16 million new coins, bringing the total market supply above $440 million.
Increase in RLUSD Supply
Ripple has issued 16 million new RLUSD coins, increasing the total coin supply to over $440 million. The reserves of RLUSD are held in cash and cash equivalents at Standard Custody under the oversight of New York regulators. This issuance reflects high institutional interest in stablecoins with clear regulations.
Ripple and AMINA Bank Partnership
Switzerland-based AMINA has become the first global bank to directly support RLUSD. The bank aims to integrate traditional banking security frameworks with blockchain efficiency. Partnering with Ripple allows AMINA to bring cryptocurrency into its services, potentially attracting new institutional investments.
RLUSD's Prospects in the Stablecoin Market
With the increased supply of RLUSD, competition with leading stablecoins like USDT and USDC is growing. The increased liquidity of RLUSD is expected in the context of rising institutional demand for fast and low-cost blockchain settlements.
The overall issuance of RLUSD and its potential uses as collateral, payment, or trading bridge indicate Ripple's strengthening position in the stablecoin market and institutional interest in regulated solutions.
