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Crypto

Ripple\'s RLUSD market cap up more than $1 billion this year, ranks third in growth speed

Ripple’s dollar-pegged stablecoin RLUSD has increased its market capitalisation by more than $1 billion this year, ranking as the third-fastest growing stablecoin. Data cited by The Crypto Basic showed RLUSD’s market-cap increase at $1.07 billion, behind only Tether’s USDT and Anchorage’s USDGO. RLUSD’s market cap has risen to about $2.42 billion, with supply split between Ethereum and the XRP Ledger. Net supply fell over the past week due to burns outweighing issuance.

Crypto

Mastercard to pilot stablecoin remittance trust checks with Borderless

Mastercard will begin a pilot project with stablecoin payments infrastructure firm Borderless to review trust and verification systems for cross-border stablecoin remittances. The project will test whether Mastercard’s Crypto Credential service can provide signals for approvals, regulatory compliance and risk management in cross-border stablecoin payments. Borderless said compliance issues hinder adoption. Mastercard will not handle fund processing or settlement in the pilot.

Crypto

PayPal to issue PYUSD natively on Polygon to expand supply

PayPal is expanding cooperation with the Polygon network to increase adoption of its stablecoin, PYUSD. The Block reported that PayPal will issue PYUSD natively on Polygon and make it available through Polygon\'s Open Money Stack, aiming to help companies use PYUSD more easily for global payment settlement. Polygon Labs CEO Marc Boiron said the setup can enable firms to receive funds, move them across borders and cash out through a single compliance-enabled integration.