Ripple’s RLUSD Stablecoin Witnessing Surge in Issuance Driven by Growing Demand

Ripple’s new USD-pegged stablecoin, RLUSD, is experiencing a significant surge in issuance. According to CoinDesk, over $100 million worth of RLUSD has been issued since April 1st, with recent issuance exceeding $50 million on both Tuesday and Wednesday. This increase coincides with Ripple integrating RLUSD into its official payment product, as payment providers BKK Forex and iSend have already begun using the stablecoin. Industry analysts believe that RLUSD could reshape the crypto market dynamics, potentially challenging the dominance of existing stablecoins like Tether (USDT) and USD Coin (USDC).