Crypto
RLUSD Stablecoin Deposits Surge $17.5M on Morpho Blue
Ripple's RLUSD stablecoin saw significant growth on Morpho Blue, a lending platform that isolates risk by pairing assets individually. Over the last 30 days, deposits rose $17.5 million to approximately $280 million, a 40% increase from the previous month.
The recent integration of FXRP as collateral allows XRP holders to borrow RLUSD without selling their tokens, enhancing borrowing options for users. This development comes on the heels of RLUSD surpassing $2 billion in market capitalization, rapidly approaching PayPal USD's valuation of $2.87 billion.