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Ripple Mints Record-Breaking Number of RLUSD Tokens
In a remarkable feat, Ripple has announced the minting of a record-breaking number of RLUSD tokens. This monumental move comes as the company eyes a top 5 placement among stablecoins for RLUSD by the end of the year.
To achieve this ambitious goal, RLUSD would need to secure a market capitalization of over $3 billion, surpassing Dai (DAI), currently ranked fifth with a market cap of $3.2 billion.
Jack McDonald, SVP of Stablecoin at Ripple, has recently revealed that RLUSD is growing at a faster rate than initially expected. The stablecoin’s rapid growth can be attributed to its increasing adoption in decentralized finance (DeFi) liquidity pools and its use by non-governmental organizations (NGOs) like Mercy Corps Ventures.
According to analytics firm IntoTheBlock, RLUSD is poised to become a major player in the stablecoin space due to its significant traction.
Source: https://u.today/ripple-mints-record-breaking-number-of-rlusd-tokens
