Ripple’s RLUSD Stablecoin has steadily gained momentum and is emerging as one of the fastest growing assets in the crypto space.
Defillama data reveals that RLUSD distribution supply skyrocketed 47% this month, reaching an impressive $455 million in June. This means that supply has increased by more than $150 million this month.
Ripple RLUSD will acquire status as the Ethereum supply quadrant
Data shows that around $390 million in RLUSD supply is on Ethereum Network, with $65 million in Ripple’s XRP ledger.
In particular, Stablecoin supply for Ethereum has grown almost four times since January, according to the Blockchain Analytics Platform Token Terminal.
Market analysts noted that several key factors contribute to the growth of RLUSD’s impressive market.
One of the main drivers is the passage of the US Genius Act, which provides clear regulatory guidelines for dollar-backed stubcoins.
This legal framework is expected to drive further growth in the sector by enabling stubcoin issuance under well-defined regulations.
Additionally, Ripple’s U.S. Securities and Exchange Commission (SEC) improvements in its legal status further boosts the appeal of RLUSD in the industry.
After five years of legal battle, Ripple CEO Brad Garlinghouse announced that the company would drop the cross appeal. The move marks the potential end of a long-term legal dispute.
With this in mind, Market Observers hope that this development will strengthen its trust in RLUSD as a reliable stubcoin for industry players.
Ripple launched RLUSD in December 2024 as a Stablecoin awarded in US dollars designed to meet regulatory standards and provide global accessibility. Digital assets are created under license from the New York Trust Company and are supported by short-term finance and cash.
In addition to US legislative advances, RLUSD has also been approved by the Dubai Financial Services Authority (DFSA), which regulates the Dubai International Financial Centre (DIFC).
This approval allows businesses within DIFC to use RLUSD for a variety of virtual asset services, including payments and financial management.
DIFC has around 7,000 registered businesses and serves as a key financial hub for the Middle East, Africa and South Asia. This positioning sets the stage for a more widespread adoption of RLUSD across these regions.
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