Ripple USD Stablecoin Hits 120 Million Supply Milestone
In just two months since its official launch, the Ripple USD (RLUSD) stablecoin has achieved a significant milestone, reaching a total supply of 120 million.
Initially launched on both the Ethereum blockchain and XRP Ledger (XRPL), the token has rapidly gained traction, showcasing its growing adoption and expanding utility across various sectors.
The growth of RLUSD has been marked by an increasing shift toward the XRP Ledger, according to blockchain analytics platform CryptoQuant. Initially gaining momentum on Ethereum, the token has since seen stronger demand on XRPL due to its lower transaction costs.
RLUSD was recently listed on the high-leverage platform Margex and secured a listing with Zero Hash, further elevating its profile. Additionally, its availability on Revolut has brought it into the mainstream financial ecosystem, contributing to its growing supply.
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Ripple began test minting RLUSD on Ethereum and XRPL in August, ahead of its official launch, and the stablecoin’s supply on XRPL now surpasses 37 million, outpacing Ethereum’s 83.3 million.
With a total supply now exceeding $120 million, RLUSD’s rise is a significant achievement for Ripple, especially with its focus on tokenizing real-world assets (RWA). Over the past few months, Ripple Labs has forged partnerships to support its tokenization efforts, further solidifying RLUSD’s role in the broader Ripple ecosystem.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
