Ripple has minted an additional 5 million RLUSD tokens on the Ethereum blockchain, bringing the total newly created RLUSD supply for July to 77.5 million. This fresh issuance reinforces Ripple’s aggressive push into the stablecoin sector as it gains traction among institutions and regulators alike.
According to the latest data from CoinGecko, RLUSD now boasts a market capitalization of approximately $533 million. This milestone positions it as the 176th largest cryptocurrency by market cap. The steady climb reflects growing investor confidence and institutional support behind Ripple’s U.S. dollar-pegged stablecoin.
Bluechip Rates RLUSD the Top Stablecoin
RLUSD recently secured a major endorsement from Bluechip, a leading independent stablecoin rating agency. In its inaugural rating, Bluechip assigned RLUSD an “A” grade, making it the highest-rated stablecoin currently tracked by the firm. This rating signals strong fundamentals, transparency, and confidence in the token’s underlying structure.
Related article: Ripple CTO Responds to XRP ATH Speculation With New Insight
To enhance credibility and ensure robust reserve management, Ripple partnered with BNY Mellon earlier this month. As the world’s top custodian of securities, BNY Mellon now safeguards the assets backing RLUSD. This strategic alliance adds a significant layer of trust to Ripple’s stablecoin framework.
GENIUS Act Marks Regulatory Win for Ripple
Ripple also celebrated a key regulatory breakthrough with the recent signing of the GENIUS Act into law. The new legislation offers much-needed clarity for stablecoin issuers and was hailed as “historic” by Ripple CEO Brad Garlinghouse. The legal certainty provided by the act is expected to accelerate institutional adoption of RLUSD and other regulated stablecoins.
Related article: Whales Buy as Ripple Cofounder Sends 26M XRP to Exchange
With the expansion of RLUSD supply, a rising market cap, top-tier rating, and trusted custodianship, Ripple continues to cement its position in the growing stablecoin arena. As regulation evolves and institutional backing strengthens, RLUSD may emerge as a dominant force in the digital dollar space.
