Peter Smith
Ripple's stablecoin RLUSD quietly reached over $527 million in market value while minting 10 million new tokens in the past 24 hours.
Ripple USD (RLUSD) is making waves in the crypto space, hitting a market cap of over $527 million according to CoinMarketCap. The stablecoin's growth comes as 10 million RLUSD tokens were quietly minted at the RLUSD Treasury in just 24 hours, per Ripple Stablecoin Tracker data.
This surge happens at a perfect time for stablecoins. The newly signed GENIUS Act has everyone talking about dollar-backed stablecoins and what they mean for crypto's future in America. The law basically says stablecoins need to be backed by real assets like US dollars and Treasury bills, plus companies have to be transparent about what's backing their coins.
RLUSD Benefits from New Stablecoin Regulations
The GENIUS Act is a game-changer for the whole stablecoin world, including RLUSD. SEC Commissioner Hester Peirce pointed out that this new law makes it crystal clear that payment stablecoins aren't securities - which removes a huge headache for everyone involved.
Right now, the stablecoin market is worth more than $264 billion, but Standard Chartered Bank thinks it could explode to $2 trillion by 2028 thanks to this new regulatory clarity. That's massive growth potential that could really boost RLUSD's position in the market.
RLUSD Price Outlook Gets Institutional Backing
Ripple just announced something pretty big - Bank of New York Mellon is now the main custodian for RLUSD reserves. This isn't just any bank; it's one of the most respected financial institutions in the US. Having them on board gives RLUSD serious credibility with institutional investors.
The whole idea behind stablecoins like RLUSD is to keep that steady 1:1 peg with the dollar while making it super easy for traders to move money around between different crypto positions. But experts think we're just scratching the surface - these coins could become the go-to option for everyday payments and money transfers down the road.
With regulatory clarity finally here and big-name institutions getting involved, RLUSD looks like it's positioned for some serious growth ahead.
Peter Smith
