Ripple's RLUSD Token Market Cap Surpasses $500M, Mints 5M More Tokens

Ripple has minted 5 million RLUSD tokens on the Ethereum blockchain, increasing the total to 77.5 million. The market cap of RLUSD now stands at $533 million, making it the 176th largest cryptocurrency. RLUSD received a rating of A from Bluechip, the highest-rated stablecoin, and is backed by BNY Mellon. Ripple celebrated the GENIUS Act, which provides regulatory guidelines for the stablecoin sector.

Ripple has announced a significant partnership with BNY Mellon, the oldest bank in the U.S., to serve as the primary custodian for its RLUSD stablecoin, effective from July 9, 2025 [1]. This collaboration marks a crucial step in Ripple's strategy to integrate traditional finance with the digital currency ecosystem, emphasizing institutional trust and regulatory compliance.

Jack McDonald, Senior Vice President of Stablecoins at Ripple, highlighted BNY Mellon's expertise in custody and commitment to financial innovation as key factors in the partnership. The collaboration involves BNY Mellon managing RLUSD custody through segregated accounts, while Ripple has also filed for a U.S. national banking license and Federal Reserve master account, leveraging BNY Mellon's financial experience.

Emily Portney, Global Head of Asset Servicing at BNY Mellon, expressed enthusiasm about supporting RLUSD's growth and adoption. She noted that BNY Mellon's role as the primary custodian will facilitate the seamless movement of reserve assets and cash to support conversions, further propelling the future of the financial system.

Ripple has also minted 5 million RLUSD tokens on the Ethereum blockchain, increasing the total to 77.5 million. The market cap of RLUSD now stands at $533 million, making it the 176th largest cryptocurrency. RLUSD received a rating of A from Bluechip, the highest-rated stablecoin, and is backed by BNY Mellon [1].

The GENIUS Act, which provides regulatory guidelines for the stablecoin sector, has been celebrated by Ripple. This act is expected to streamline regulatory compliance and support the broader adoption of stablecoins.

Ripple's strategic moves, including its partnership with BNY Mellon and its expansion into the UAE, demonstrate the company's dedication to bridging the gap between traditional finance and digital assets. By aligning with established financial institutions and regulatory bodies, Ripple is positioning itself as a leader in the digital asset space, paving the way for broader adoption and integration of blockchain technology in the financial sector.

References:
[1] https://www.ainvest.com/news/ripple-partners-bny-mellon-rlusd-stablecoin-custody-2507-49/