350,000 RLUSD Tokens Minted on XRP Ledger

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.

The company believes that $RLUSD will eventually be able to appear among the top 5 biggest stablecoins by the end of this year.