Ripple's stablecoin, RLUSD, is showing growth and attracting attention as it nears a $500 million market cap milestone.
Growth of RLUSD Minting
According to a recent report, $10 million in RLUSD was minted in the last 24 hours, indicating rising demand for this coin. The current market value of RLUSD is approximately $415.72 million.
The Role of RLUSD in Ripple's Ecosystem
With recent changes in Ripple's ecosystem, such as the expansion into institutional payments and real asset tokenization, RLUSD appears to hold a key position. Additionally, Ondo Finance has introduced the ability to use RLUSD for transactions involving government bonds.
Stablecoins and New Legislative Initiative
Following the passage of the stablecoin bill in the U.S. Senate, stablecoins are in the spotlight. The potential passage of the GENIUS Act requires stablecoins to be backed by liquid assets like U.S. dollars and short-term Treasury bills.
Stablecoins like RLUSD continue to gain popularity. Their stability and reliability make them an essential tool in the financial ecosystem, especially in light of new legislative initiatives.
