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Ripple’s RLUSD stablecoin has been steadily gaining momentum, emerging as one of the fastest-growing assets in the crypto space.

Data from DeFillama reveals that RLUSD’s circulating supply surged by 47% this month, reaching an impressive $455 million in June. This means its supply increased by over $150 million this month.

Ripple RLUSD Gains Ground as Ethereum Supply Quadruples

According to the data, approximately $390 million of RLUSD’s supply is on the Ethereum network, while $65 million resides on Ripple’s XRP Ledger.

Notably, the stablecoin’s supply on Ethereum has grown by nearly four times since January, according to blockchain analytics platform Token Terminal.

Market analysts noted that several key factors have contributed to RLUSD’s impressive market growth.

One of the primary drivers is the passage of the US GENIUS Act, which provides clear regulatory guidelines for dollar-backed stablecoins.

This legal framework is expected to encourage further growth in the sector by enabling stablecoin issuance under well-defined regulations.

Moreover, Ripple’s improved legal standing with the US Securities and Exchange Commission (SEC) is further boosting RLUSD’s appeal in the industry.

After a five-year legal battle, Ripple CEO Brad Garlinghouse announced that the company would drop its cross-appeal. This move signals a possible end to the protracted legal dispute.

Considering this, market observer expects the development to strengthen confidence in RLUSD as a reliable stablecoin for industry players.

Ripple launched RLUSD in December 2024 as a US dollar-pegged stablecoin designed to meet regulatory standards and offer global accessibility. The digital asset is minted under a New York trust company license and is backed by short-term Treasurys and cash.

In addition to the US legislative advancements, RLUSD has also received approval from the Dubai Financial Services Authority (DFSA), which regulates the Dubai International Financial Centre (DIFC).

This approval allows companies within the DIFC to use RLUSD for various virtual asset services, including payments and treasury management.

The DIFC is home to nearly 7,000 registered businesses and serves as a key financial hub for the Middle East, Africa, and South Asia. This positioning sets the stage for broader adoption of RLUSD across these regions.

The post Ripple’s RLUSD Becomes the Fastest Growing Stablecoin In June appeared first on BeInCrypto.

The Trump International Hotel and Tower in Dubai will accept Bitcoin and other unspecified cryptoassets for real estate purchases. The project won’t be completed for five years, so details are somewhat sparse.

Although the Tower will include a hotel and clubhouse for tourists and temporary guests, crypto payments are only available for condo acquisitions. Permanent occupancy units will sell for between $1 million and $20 million each.

Trump’s Dubai Project Mixes Crypto and Real Estate

According to a report from The National, Eric Trump is apparently his family’s main representative in this plan. The Trump Organization is building the Trump International Hotel and Tower in Dubai, and Eric is its executive vice president.

He gave several comments describing the plan to accept crypto payments:

“[The Tower] is going to be the first truly large-scale project that accepts Bitcoin, that accepts cryptocurrency to purchase units, and that’s really exciting for me, because I love that world and I am deeply invested in that world. I believe in cryptocurrency. When I can see two worlds that I truly love come together, it’s very exciting,” Eric Trump claimed.

Trump name-dropped Bitcoin as an asset that enables these purchases, but he didn’t describe any other specific tokens. To be clear, the Tower will contain both a hotel and condominiums for permanent occupancy; only the latter can pay with crypto.

There is no apparent plan to employ tokenized real estate strategies either. Crypto will purely be used as a payment option.

The Trump family is partnering with Dar Global, a London-listed company, to launch this $1 billion Dubai development project. Its two penthouses will have a $20 million asking price, while other condos will go for between $1 and $1.2 million.

If everything goes according to plan, the Tower will open its doors in five years.

Eric Trump is an influential member of his family’s crypto enterprises thanks to his involvement with WLFI. He also sits on Metaplanet’s Advisory Board, further lending credence to his interest in crypto.

Eric Trump is also set to appear at Token2049 in Dubai, which could give him another opportunity to advertise the project to potential buyers.

Dubai is an attractive destination for the Trump International Hotel and Tower because it has a booming real estate market and a growing crypto hub.

Since construction is still in its early stages, details about the project are relatively sparse, but it enjoys several solid fundamentals. Its success could be a valuable proof of concept for real estate developments worldwide.

The post Trump’s $1 Billion Dubai Real Estate Project Will Accept Crypto Payments  appeared first on BeInCrypto.