Ripple continues to expand its presence in the stablecoin market by increasing the supply of RLUSD to 527 million dollars. This comes amid growing demand and refined regulatory standards in the US.
Increase in RLUSD Supply
Ripple recently minted an additional 10 million units of its stablecoin RLUSD, which is part of a broader expansion strategy. This minting aligns with the heightened demand and fresh regulatory clarity.
BNY Mellon’s Role and Regulatory Changes
BNY Mellon acts as the custodian of RLUSD reserves, adding an institutional layer of credibility to the stablecoin and ensuring compliance with regulatory standards. Legislative initiatives like the GENIUS Act provide a clearer framework for dollar-backed stablecoins.
Ripple’s Strategy and the Future of Stablecoins
Ripple’s actions illustrate a strategic response to recent regulatory shifts. As RLUSD increases its market presence, experts foresee further institutional adoption and technological advancements within the XRP Ledger ecosystem.
Ripple’s strategy to expand RLUSD supply highlights the importance of the cryptocurrency industry's adaptation to regulatory changes. Experts believe that with clear regulatory frameworks, stablecoins can play a significant role in the future of the cryptocurrency market.
