RLUSD, Issued Over $100 Million This Month... Demand for Stablecoins ↑
JOON HYOUNG LEE
Summary
- CoinDesk reported that Ripple's stablecoin RLUSD has been issued over $100 million just in April, with demand surging.
- The increase in issuance is due to Ripple adding stablecoins to its official payment products.
- It was also reported that the issuance of RLUSD could trigger competition with Tether (USDT) and USDC.
Ripple's dollar-based stablecoin RLUSD has been issued over $100 million (approximately 150 billion KRW) just this month.
CoinDesk reported on the 3rd (local time) that "RLUSD has been issued over $100 million since April," and "this is the largest amount in recent months." CoinDesk stated, "(The increase in issuance) is due to Ripple adding stablecoins to its official payment products," and "there is growing demand for relatively new stablecoins."
RLUSD is a stablecoin launched by Ripple at the end of last year. Some market analysts suggest that RLUSD could change the dynamics of the stablecoin market. CoinDesk predicted that "Tether (USDT) and USDC could compete with Ripple's stablecoin."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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