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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Ripple’s RLUSD Stablecoin Surpasses $600M Cap After Major Mint
Ripple minted 10 million RLUSD tokens on Ethereum, pushing the stablecoin’s market cap beyond the $600 million milestone.
Bank of New York Mellon now acts as custodian for RLUSD, adding institutional credibility and strengthening user trust.
Doppler Finance launched a vault allowing RLUSD deposits, enhancing user participation and increasing the token's utility across DeFi platforms.
Ripple’s stablecoin RLUSD recorded a major supply boost on Tuesday, with 10 million new tokens minted on the Ethereum blockchain. The update was confirmed by Ripple’s official stablecoin tracker. This mint contributed to the token’s total market capitalization crossing the $600 million mark, reflecting its growing role in the digital asset ecosystem.
RLUSD’s momentum has also been supported by institutional backing. Last month, Bank of New York Mellon Corporation confirmed its role as a custodian for RLUSD. As the oldest bank in the United States, BNY Mellon's involvement signals growing confidence in Ripple’s dollar-backed stablecoin and is expected to bring further institutional interest.
Independent Ratings Boost RLUSD’s Image
In recent weeks, the stablecoin gained additional recognition. Bluechip, an independent stablecoin rating agency, identified RLUSD as the most trusted stablecoin currently available. This endorsement may contribute to further adoption across both retail and institutional sectors.
Doppler Finance, a protocol operating within the XRPfi ecosystem, announced a new RLUSD vault this week. This tool allows users to deposit RLUSD and earn rewards, enhancing the utility and attractiveness of the stablecoin for yield-seeking participants.
RLUSD Advances in Market Rankings
RLUSD recently moved ahead of privacy-focused cryptocurrency Zcash (ZEC) in total market capitalization. Zcash has seen a drop in visibility amid regulatory pressure on privacy coins. While RLUSD is still not among the top 15 stablecoins by market cap, the recent developments show its steady progress.
Despite the upward momentum, RLUSD remains behind other competitors. According to CoinGecko data, stablecoins such as USDX from Stable Labs and Tether Gold (XAUT) still lead in market capitalization. Ripple has previously stated its ambition to bring RLUSD into the top five stablecoins, although significant growth would be needed to reach that level before the end of the year.
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