Ripple Minted 28.2 Million RLUSD
Ripple, a blockchain company and stablecoin issuer has created an extra 28.2 million Ripple tokens (RLUSD).
The company minted $25 million worth of RLUSD on Ethereum, the largest token mint size since its December 2024 launch.
Ripple’s supply of RLUSD has doubled in less than two months. RLUSD’s total market valuation is worth about $170 million, according to data from Coingecko. The XRP Ledger (XRPL) has 44.05 million RLUSD tokens, while Ethereum (ETH) has 125.64 million RLUSD tokens.
XRP has produced more than 34 million tokens on XRPL and Ether, the RLUSD Mint is taking place in the context of the March Dot events. The DFSA was given approval to provide regulated cryptocurrency services and payments inside the Dubai International Finance Center (DIFC).
Ripple will be the first blockchain-based payment service provider with the DFSA’s approval.
Brad Garlinghouse, CEO of Ripple, stated, “The crypto industry is about to enter a period of growth, driven by greater regulatory clarity and growing institutional adoption.”.
A 2024 Ripple business survey found that 64% of Middle Eastern and African (MEA) financial leaders believe that blockchain-based currencies have an advantage over fiat in cross-border transactions due to quicker payments and settlement times.
The CEO of the DIFC Authority, His Excellency Arif Amiri, welcomed Ripple to the United Arab Emirates, stating, “We are thrilled that Ripple is strengthening its ties to Dubai by securing a Ripple DFSA.
David Schwartz, Ripple’s Chief Technology Officer, acknowledged that legal or regulatory requirements could stop or reverse RLUSD transactions.
The GENIUS Act (Guiding and Establishing National Innovation for Stablecoins) was introduced by Senator Bill Hagerty. Stablecoin issuers must use technology that permits the freezing or seizure of assets when required by law,
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