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Ripple expanded its stablecoin footprint by creating 5 million new RLUSD tokens on the Ethereum blockchain.

 

The milestone revealed Ripple’s strategic growth in the stablecoin sector, emphasizing transparency and regulatory compliance through partnerships with established financial institutions. Bluechip’s A rating for RLUSD highlights its position as a top enterprise-grade stablecoin in the dynamic cryptocurrency market.

The supply of the stablecoin has grown significantly with Ripple’s recent minting of 5 million RLUSD tokens on Ethereum, bringing the total issuance in July to 77.5 million tokens. RLUSD now ranks among the top 200 digital assets worldwide, with a market valuation of approximately $533 million.

The stablecoin is more reliable and attractive to institutional investors seeking dependable digital assets.

The fact that Bluechip awarded RLUSD an A rating—the highest granted to any stablecoin they evaluate—demonstrates strong confidence in its governance and stability. This independent endorsement enhances RLUSD’s standing and encourages broader adoption within the cryptocurrency community. Bluechip’s main criteria include transparency, reserve backing, and regulatory compliance; RLUSD excels in these areas, distinguishing itself from competitors.

The partnership between Ripple and BNY Mellon, a well-known and respected securities custodian worldwide, provides RLUSD’s reserve management with an essential layer of security and regulatory compliance. By entrusting BNY Mellon with reserve custody, Ripple enhances transparency and investor protection while following best practices in financial oversight. Ripple’s commitment to integrating traditional financial rigor into the decentralized stablecoin framework is demonstrated through this strategic partnership.