- RLUSD ranked most trusted stablecoin after U.S. regulation passes.
- Ripple resumes RLUSD minting amid rising market trust and demand.
- Garlinghouse warns XRP holders of growing YouTube scam attacks.
Ripple’s newly launched stablecoin, RLUSD, has officially been ranked the most trusted in the market by the leading stablecoin rating agency Bluechip. The rating came just as the U.S. passed the Genesis Act, a landmark law now regulating the issuance, circulation, and operation of stablecoins within the country.
Bluechip awarded RLUSD an “A” rating, placing it at the top of its trust list for dollar-pegged digital assets. Ripple CEO Brad Garlinghouse subsequently mentioned this, responding to the X rating, stating, “It came in the middle of all this regulatory goodness.”
His post garnered more interest from the XRP community, interpreting it as a sign of the positive regulatory things to come.
As the Genius Act becomes law, some stablecoins will be required to adhere to more transparency and user-protection requirements. RLUSD’s high score indicates that the token is in good shape and will participate in processes needed to meet these requirements, which can provide Ripple with some competitive edge once the market adapts.
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Ripple Expands RLUSD Supply Following Positive Market Response
Ripple resumed its minting of RLUSD on July 23 with a fresh release of 25 million tokens, following a four-day gap. Before this, the company had minted 5 million tokens on July 18 and another 5 million on July 21.
Its consistent issuance process implies that RLUSD will be rolled out strategically and in stages as the company designs the token to play a more significant role in the ecosystem.
It was also mentioned in the Bluechip rating that the stablecoin puts focus on the issue of security and transparency, which are becoming more significant under the Genius Act.
Ripple’s slow and steady release of RLUSD makes the company even more ready to exploit the rising demand for safe and controlled stablecoins.
Garlinghouse Cautions XRP Community Over Surge in Online Scams
As Ripple gains recognition in the stablecoin space, 36crypto earlier reported that Garlinghouse has issued a warning to XRP holders about a sharp rise in online scams. He revealed that scammers have been taking over real YouTube accounts and rebranding them to look like Ripple’s official page.
These fake accounts are running fraudulent XRP giveaway schemes, falsely claiming endorsement from Ripple or its leadership. Garlinghouse made it clear that he or Ripple will never ask users to send anything in the form of XRP.
According to Ripple, fraudulent activities have risen in the past weeks. Scammers rely on false live broadcasts and modified videos, which frequently copy brand designs, to defraud viewers and guarantee inordinate returns.
Garlinghouse called on the community to be on the lookout, check everything posted on the internet, and ensure that suspicious activity is reported. He also urged people to be cautious as the nature of increasing token prices draws more fraud.
Conclusion
With RLUSD earning the highest trust rating in the market and Ripple maintaining regulatory momentum, the company is also stepping up its efforts to protect users. Garlinghouse’s warning highlights the dual responsibility of building secure products and safeguarding the community from growing online threats.
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