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Ripple Mints 12 Million RLUSD as Senate Prepares to Vote on Stablecoin Bill
- Ripple mints 12 million RLUSD tokens after a month-long pause, just ahead of the U.S. Senate's GENIUS Act vote, signaling a strategic move amidst upcoming regulation.
- This move is seen as more than a supply adjustment and could be a strategic signal by Ripple in the stablecoin sector.
- RLUSD trading volume jumps by 30% following the minting, nearing a total supply of 405 million tokens across Ethereum and the XRP Ledger.
- Ripple paused RLUSD issuance in early May in a responsible growth effort, focusing on maintaining price stability and trust in the token.
- The timing of the minting coincides with the U.S. Senate's GENIUS Act vote on stablecoin regulation, potentially reflecting Ripple's confidence in the bill's passage.
- RLUSD is Ripple's U.S. dollar-pegged stablecoin known for its speed, transparency, and stability, catering to traders, remittance users, and DeFi participants.
- Most RLUSD tokens circulate on Ethereum, with a portion on the XRP Ledger for faster and lower-cost transactions, totaling approximately 405 million tokens.
- Following the mint, RLUSD's trading volume surges by over 30%, indicating increased interest and readiness for potential regulatory changes.
- Ripple's move suggests preparation for regulatory shifts and a belief in a regulated stablecoin market, positioning RLUSD as a leader.
- A potential passage of the GENIUS Act could prompt significant industry developments, with Ripple poised to leverage its institutional ties and global network.
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