Ripple Accelerates RLUSD Issuance After Dubai License, Doubling Supply in Two Months
- Minting of 28,2 million RLUSD.
- Ripple secures license in Dubai.
- Ripple Expansion.
A Ripple minted 28,2 million Ripple USD (RLUSD) tokens in the past 24 hours, according to data do market cap shared by the Ripple Stablecoin Tracker account on the X platform. This significant increase, the largest since the launch of RLUSD in December 2024, brings the token’s total market cap to an impressive $169 million, doubling the supply in less than two months.
At press time, RLUSD is trading at $0,9994, up 0.1% over the past 24 hours. Yesterday, the token peaked after breaking the $1 barrier but subsequently retraced. Ripple USD (RLUSD) trading volume was $26.901.165 over the past 24 hours, representing an increase of 8,60% from a day ago and signaling a recent surge in market activity.
According to the data , the majority of RLUSD is issued on the Ethereum network, with a minting of 125,64 million tokens while 44,05 million are on the XRP Ledger (XRPL). In this sense, the supply of RLUSD has more than doubled in a period of six weeks.
This increase in token issuance comes on the heels of Ripple receiving approval from the Dubai Financial Services Authority (DFSA) last week. Since the license announcement, the company has minted over 34 million tokens on the XRPL and Ethereum networks, demonstrating the company’s rapid response to new regulatory opportunities.
Ripple Gets Historic Dubai License, XRP Price Soars
Ripple announced , on March 13, it has secured its long-awaited license from the Dubai Financial Services Authority (DFSA), becoming the first blockchain company to receive regulatory approval for cross-border payments in the region. The announcement, which came after an initial in-principle approval, boosted the price of XRP, which has seen a surge of over 3% in the past 24 hours.
The DFSA license represents a significant milestone for Ripple as it seeks to expand its global footprint and offer innovative payment solutions to businesses and financial institutions. With the approval, the company will be able to meet the growing demand for fast, secure and cost-effective cross-border transactions in the Middle East and Africa, a strategic region for international trade and remittances.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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