Ripple Launches RLUSD Stablecoin on Aave V3 Ethereum Market
Aave has announced that users can now supply and borrow RLUSD stablecoin on its V3 Ethereum Core market. Key details include:
- Supply cap of 50 million RLUSD
- Borrow cap of 5 million RLUSD
- RLUSD is pegged 1:1 to the U.S. dollar
- Fully backed by U.S. dollar deposits, short-term U.S. Treasuries, and cash equivalents
- Security features include a “clawback” mechanism for token recovery under specific conditions
RLUSD may alter the competitive landscape for stablecoins, potentially impacting Tether's USDT and Circle's USDC.