Ripple's stablecoin RLUSD continues to grow, with the minting of 1,050,000 tokens and a new Reserve Report highlighting its backing assets. A partnership with Ondo Finance will bring tokenized U.S. Treasuries to the XRP Ledger, expanding access for institutional investors.
The minting of 1,050,000 RLUSD tokens signifies a significant milestone as Ripple 's stablecoin continues to expand its presence in the stablecoin market. RLUSD , an enterprise-grade, USD-denominated stablecoin, launched globally on December 17th to accelerate the adoption of stablecoin-based payments. Designed to maintain a value of 1:1 to the U.S. dollar (USD), RLUSD has gained traction in the market.
The December 2024 RLUSD Reserve Report marks the first such report, providing transparency regarding the assets backing the stablecoin. The reserve composition includes U.S. Treasury Bills, Government Money Market Fund, and cash deposits, reassuring investors about the stability and backing of RLUSD. In a recent development that expands the utility of RLUSD, Ripple and Ondo Finance are collaborating to bring OUSG, tokenized U.S. Treasury, to the XRP Ledger. This partnership will provide institutional investors with access to Ondo Short-Term U.S. Government Treasuries (OUSG), which are backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). OUSG can be instantly issued and redeemed 24/7, leveraging the speed and efficiency of the XRP Ledger. Demand for digital asset capabilities has surged alongside the widespread adoption of stablecoins for payments, such as Ripple USD (RLUSD), which will be integrated into Ripple Payments later this year.As the crypto industry and progressive regulation evolve in parallel, the Ripple team anticipates that stablecoins will play an increasingly vital role in 2025, alongside the emergence of entirely new asset classes. Ripple's Senior Vice President of Stablecoins, Jack McDonald, predicts that while stablecoins proliferated in 2024, 2025 will witness a consolidation trend favoring high-quality, regulated stablecoin issuers. Only those with institutional backing and robust compliance frameworks will be able to withstand what he terms a 'war of attrition.
RLUSD Ripple Stablecoin Reserve Report Ondo Finance OUSG XRP Ledger Institutional Investors
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