u.today
Ripple USD stablecoin, $RLUSD's, supply expanded in July, with 122,500,000 tokens minted so far in the month.
In the past week, 45 million were minted alone, with 25,000,000 $RLUSD minted at $RLUSD Treasury on July 23; 20,000,000 $RLUSD were minted on July 25, according to Ripple Stablecoin Tracker.
The increase in supply highlights the growing demand for $RLUSD on exchanges and DeFi protocols, where stablecoins play a critical role in liquidity and trading volume.
$RLUSD is fully backed 1:1 by USD and cash equivalents and is built for DeFi, payments and applications.
Ripple USD has recently been listed on PDAX, the Philippines' major BSP-licensed cryptocurrency exchange. Bluechip also gave $RLUSD an A rating, recognizing it as the most trusted stablecoin on the market.
The market capitalization of the $RLUSD stablecoin is approaching $600 million, currently at $577 million. In the last 24 hours, Ripple USD trading volume increased by 129% to $58.34 million.
Ripple pushes $RLUSD adoption
Ripple is helping to make stablecoin use mainstream for a wider range of applications. In a first-of-its-kind initiative, Ripple recently announced a $25 million philanthropic commitment using $RLUSD to fund leading education nonprofits.
Stablecoins are digital assets that aim to maintain a steady value. They are typically tied to fiat currencies such as USD or EUR, which minimizes the volatility that other cryptocurrencies are known for, providing a stable and viable alternative for everyday transactions.
Stablecoin remittances as a use case are contributing to a general increase in stablecoin adoption, with the average supply of stablecoins in circulation increasing by approximately 28% year-on-year. The total amount of stablecoin transfers reached $27.6 trillion in 2024, surpassing Visa and Mastercard's combined transaction volume.