Aave V3 adds Ripple RLUSD stablecoin, supporting lending services in the Ethereum core market

Ripple's dollar-pegged stablecoin RLUSD is now available on the Aave V3 Ethereum core market, providing lending services for institutions and decentralized finance users. Initially, the supply cap of RLUSD is 50 million, with a borrowing limit of 5 million. Currently, this market has low activity with a utilization rate of 0%, no visible lending activities, and an annual interest rate of 0%. Despite this, RLUSD's market value has exceeded $293 million USD with a total trading volume reaching $10 billion USD.

RLUSD targets corporate applications and Ripple has integrated it into its payment system to facilitate cross-border payments. Its launch on Aave V3 opens up new prospects for its future application in DeFi. With the initiation of liquidity mining and interest structure, it is expected to attract more users.