Ripple has created an additional 350,026 Ripple USD (RLUSD) tokens, according to a recent update. This marks the first minting event in more than a week.
Last week, Ripple minted a record-breaking 100 million RLUSD tokens.
The total market cap of the token is currently approaching the $300 million mark, CoinGecko data shows.
As reported by U.Today, Ripple recently announced the acquisition of Hidden Road for $1.25 billion. The deal is expected to be a boon for RLUSD since it will be used as collateral in various products offered by the prime brokerage.
Gamza KhanzadaevThe company believes that RLUSD will eventually be able to appear among the top five biggest stablecoins by the end of this year.
Earlier this month, Ripple's stablecoin became available on Kraken, one of the leading exchanges in the world.
Vladislav Sopov
Dan Burgin