Ripple Mints 1 Million More RLUSD Tokens as Market Cap Approaches $110 Million
2025-02-04
Category: None

San Francisco-based blockchain company Ripple has minted an additional million of RLUSD tokens, according to the latest data provided by the @RL_Tracker account. 
Earlier this month, the company also minted 2 million tokens on Feb. 1. 
As reported by U.Today, Ripple's dollar-pegged stablecoin, surpassed $100 million in total market cap earlier this January. This milestone was recently high by Ripple CEO Brad Garlinghouse. Jack McDonald, SVP of stablecoins at Ripple, recently stated that the stablecoin has gained "amazing traction." 
According to the data provided by the crypto ranking website CoinGecko, the stablecoin currently has a market cap of nearly $110 million. 
Last month, Ripple President Monica Long said that "trust" and "compliance" were crucial in the rapidly growing stablecoin market. 
She said that the RLUSD stablecoin is a "natural step" for the enterprise blockchain company. According to Long, it would help Ripple to bridge the gap between traditional finance and blockchain. 
Some major exchanges of the likes of Bitstamp have already added the stablecoin, and more listing announcements are expected to happen in the near future, according to Long. 
As reported by U.Today, the AMMClawback amendment was recently implemented on the XRP Ledger (XRPL), which means that the RLUSD stablecoin can now get some DeFi traction with AMM pools. The amendment was necessary to ensure regulatory compliance since it makes it possible to claw back tokens if they get used for some nefarious purchases. 
According to recent data, the XXRPRLUSD pool currently has a total of $1.3 million worth of liquidity. 