Rippleās stablecoin RLUSD expanded its circulating supply by 29% in the week ended June 8, adding $72.5 million and closing at $320.6 million.
The movement marks the first time the tokenās float crossed the $300 million threshold. Additionally, it represents a sixfold increase since the launch of RLUSD on Dec. 17, 2024.
Data from Artemis shows the additional issuance coincided with a 38% increase in weekly transfer volume, which climbed to $648.1 million from $469.7 million seven days earlier.Ā
It is close to the weekly transfer volume peak registered between April 21 and 27, when users moved $741 million using RLUSD.
Yet, the token accounts for roughly 0.1% of the $236 billion stablecoin market. USDT, the largest dollar-pegged stablecoin, grew 0.57% to $157.9 billion, while USDC edged 0.33% lower to $59.6 billion.Ā
Smaller issuers such as PYUSD and USDS posted single-digit percentage gains.
Ripple mints RLUSD under a New York trust-company license and records each token against short-term Treasurys and cash held in regulated accounts.Ā
The company burned no tokens during the measurement window, indicating net new creation rather than re-issuance of previously redeemed supply.
UAE approval opens new distribution channel
The fresh issuance arrived days after the Dubai Financial Services Authority approved RLUSD for use inside the Dubai International Financial Centre.Ā
Ripple plans to integrate the stablecoin with its DFSA-licensed payments platform, enabling up to 7,000 locally regulated firms to settle transactions in the token.
Rippleās managing director for the Middle East and Africa, Reece Merrick, said demand for digital-asset settlement and custody is growing āfast across the regionā and called the UAEās digital economy āvibrant and dynamic.āĀ
The DFSA nod grants RLUSD both US and international regulatory recognition, positioning the coin alongside USDT and USDC, which already operate in the emirate.
The stablecoin is also in Rippleās roadmap following the acquisition of the prime brokerage platform Hidden Road. The crypto firm will integrate RLUSD into Hidden Roadās services as part of its $1.25 billion deal.
The post RLUSD surpasses $300M supply as Ripple secures UAE backing appeared first on CryptoSlate.
Ā Rippleās stablecoin RLUSD expanded its circulating supply by 29% in the week ended June 8, adding $72.5 million and closing at $320.6 million. The movement marks the first time the tokenās float crossed the $300 million threshold. Additionally, it represents a sixfold increase since the launch of RLUSD on Dec. 17, 2024. Data from Artemis
The post RLUSD surpasses $300M supply as Ripple secures UAE backing appeared first on CryptoSlate.Ā Crypto, Featured, Regulation, StablecoinsĀ
This articles is written by : Nermeen Nabil Khear Abdelmalak
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