Ripple has officially minted 10 million RLUSD stablecoins at its treasury, marking a significant event for the cryptocurrency market.
Minting RLUSD and New Legislation
Today, the U.S. Congress passed the GENIUS Act, which could be a major breakthrough for RLUSD. The law provides clear regulations, allowing RLUSD to be one of the few stablecoins that comply with these requirements. This could encourage greater adoption of the coin among major institutions.
RLUSD Stablecoin Market
RLUSD is a stablecoin pegged 1:1 to the US dollar and primarily issued on the Ethereum network. It is designed for stability, making it ideal for fast crypto payments, trading, and on-chain transactions with minimal price volatility.
Recent Changes in RLUSD Minting
Currently, the total number of RLUSD tokens stands at 405.74 million, with a market capitalization of $405.63 million. The 24-hour trading volume is around $60.23 million, down by 50% from the previous day. Previously, there was a complete month of inactivity in minting new tokens, indicating a pause in minting activity.
The minting of new RLUSD tokens, combined with the passage of new legislation, could significantly change the landscape of stablecoins and improve conditions for their use.
