Ripple USD Supply Increases to $1.5862 Billion
The supply of Ripple USD (RLUSD) has increased to $1.5862 billion. With the inclusion of Flare's FXRP as collateral for the Ripple USD loan vault, the scope of its use in the Ethereum-based lending market has expanded. According to Ripple's official transparency page, as of July 30, the reserve assets for Ripple USD were reported to be $1.6972 billion. This marks an increase of $77.6 million in supply from the $1.5086 billion reported on July 16, and an increase of $78.1 million in reserve assets from $1.6191 billion. With the approval of Flare's FXRP as collateral for the Centora Ripple USD loan vault, Ripple holders can secure dollar-pegged liquidity without selling their assets. According to CoinDesk, the size of this vault is $280 million. Users must convert XRP to FXRP through Flare's FAssets system, then move to Ethereum via Stargate. After that, they can deposit FXRP as collateral in the Mopo Blue FXRP/Ripple USD market and borrow Ripple USD within the specified collateral recognition ratio. Flare must go through the processes of issuing FXRP, moving between chains, depositing in Mopo, and borrowing Ripple USD, and is developing features to approve the entire process from the XRP Ledger wallet and to enable direct issuance between XRP Ledger and Ethereum.
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