San Francisco-based blockchain company Ripple has minted an additional million RLUSD tokens. This move comes amidst growing market capitalization of their stablecoin.
New RLUSD Token Issuance
According to the latest data from the @RL_Tracker account, Ripple has once again minted additional RLUSD tokens. Earlier in February, the company minted 2 million tokens.
Market Capitalization and Development
As reported, RLUSD's market capitalization surpassed $100 million in January. According to Jack McDonald, SVP of stablecoins at Ripple, the token is gaining tremendous traction. CoinGecko data shows that the market cap is nearing $110 million.
Market Prospects and Regulation
Ripple President Monica Long stated that aspects such as 'trust' and 'compliance' are crucial in the stablecoin market. RLUSD is a 'natural step' for Ripple in bridging traditional finance and blockchain. Several major exchanges have already listed the token, and further announcements are expected. The recent AMMClawback amendment on the XRP Ledger will allow RLUSD to gain DeFi traction.
Ripple continues to actively develop its RLUSD stablecoin with new issuances, aiming to secure a significant market position while ensuring high trust levels and regulatory compliance.
