Aave V3 adds Ripple RLUSD stablecoin to support lending services in Ethereum core markets

Odaily News Ripple's USD-pegged stablecoin RLUSD is now live on the Aave V3 Ethereum core market, providing lending services to institutions and decentralized finance users. The initial supply of RLUSD is capped at 50 million, with a lending cap of 5 million. Currently, the market is relatively low, with a utilization rate of 0%, no lending activity, and an annual interest rate of 0%. Despite this, RLUSD has a market cap of over $293 million and a total trading volume of $10 billion.
RLUSD targets enterprise applications, and Ripple has integrated it into the Ripple payment system to facilitate cross-border payments. Its launch on Aave V3 opens up new prospects for its future application in DeFi, and with the launch of liquidity mining and interest structures, it is expected to attract more users.