In the latest development within the Ripple ecosystem, the RLUSD stabecoin goes live on the Aave V3 Ethereum Core Market. Bolstering Ripple’s entry into the stablecoin market, RLUSD gained new utility, allowing users to supply or borrow the coin.
Notably, Aave’s listing of the token comes amidst growing adoption of the Ripple stablecoin. With increased momentum, the token has surpassed a market capitalization of $293 million since its December 2024 launch.
Ripple RLUSD Enters DeFi Space, Launches on Aave
In a recent X post, decentralized finance (DeFi) protocol Aave officially announced the launch of Ripple’s RLUSD stablecoin. While the listing marks Ripple’s entry into the DeFi space, it provides users with lending and borrowing services.
“Users can now supply and borrow RLUSD, Ripple’s enterprise-grade stablecoin, on the Aave V3 Ethereum Core market,” announced Aave on X. The initial launch of the stablecoin includes a supply cap of 50 million tokens and a borrowing cap of 5 million tokens.
RLUSD Market Activity Update
According to Aave’s dashboard, RLUSD markets are still ramping up, with a reserve size and available liquidity of $124.98 and a utilization rate of 0%. The price remains stable at $1.00, aligned with its USD peg. With no borrowings recorded, the current APY stands at 0%, reflecting low activity and a lack of lending promotions.
Growing Exchange Listings Fuel Ripple’s Growth
Interestingly, Ripple’s RLUSD stablecoin is expanding globally. The stable token has initiated integrations with major platforms like Kraken, LMAX Digital, Bitstamp, Bullish, and Zero Hash. This paves the way for increased institutional and retail adoption of RLUSD.
Now, Ripple has plans to further boost adoption by engaging with institutions, integrating the stable token into more decentralized and centralized apps. The platform intends to explore new use cases in lending, trading, and DeFi. This positions RLUSD for growth in the competitive stablecoin market.
Recently, Ripple announced RLUSD’s major role in the Hidden Road broker deal. Reportedly, the stablecoin will be used as collateral.
The post Ripple’s Stablecoin RLUSD Now Live on Aave V3 appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed