📢 Ripple Mints Record-Breaking Number of RLUSD Tokens

Ripple has minted a record-breaking 50 million tokens on Ethereum. This is the largest single-batch mint to date by a large margin.

On top of the aforementioned sum, the company minted a total of 61.3 million tokens in March. On March 17, Ripple issued more than 28 million RLUSD.

According to CoinGecko data, the total market cap of RLUSD has already swelled to $243 million. However, the stablecoin, which was launched in December, still has a long way to go before it catches up with its major competitors.

For comparison, PayPal's PYUSD has a market cap $753 million. Circle's USDC stands at $60 billion, while Tether is approaching $143 billion.

Ripple CEO Brad Garlinghouse has stated that the company is eyeing a top five placement among stablecoins for RLUSD by the end of this year. To achieve this ambitious goal, it would need to secure a market cap of more than $3 billion. Dai (DAI), the fifth-largest stablecoin, is currently at $3.2 billion.

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