$RLUSD Hits $2 Billion Milestone Amid Growing Global Adoption
Ripple's Stablecoin $RLUSD Continues to Gain Momentum
Ripple's Senior Vice President of Stablecoins, Jack McDonald, is in Brooklyn this week for the Real World Asset Summit (RWA), where he will be discussing the growing global adoption of stablecoins. The event, which takes place from September 1 to 2, features a panel discussion titled 'Going Global' with McDonald as one of the speakers.
In related news, $RLUSD has reached new milestones, including crossing the $2 billion mark in August on the XRP Ledger alone. This achievement comes just under two years since its launch, with Ripple expressing excitement about what's ahead.
The stablecoin is being used in various capacities, including as a regulated cash leg for transactions involving tokenized assets and as a credit asset for loans to fintechs and payments companies on the XRP Ledger. Additionally, $RLUSD has been used in Kenya to help small businesses access insurance and credit more efficiently.
In exchange news, Bybit launched Phase 2 of its $RLUSD Hold & Earn program after surpassing $50 million in assets under custody in just 11 days.