Ripple's RLUSD in Focus as Firm Pledges $25M to U.S. Educational Initiatives
The funds will be distributed throughout 2025. Some $15 million is dedicated to teachers through DonorsChoose, and $10 million will go to Teach For America.
The donation is in partnership with The Giving Block, coming at a critical time for education in the U.S. as ongoing federal funding cuts are causing significant uncertainty among educational institutions and educators alike.
The Giving Block also added support for donations using RLUSD, Ripple's U.S. dollar pegged stablecoin, as the token gains traction in a crowded market. Such transfers boost the token's visibility and usecase, however, some developers say.
"Stablecoins like RLUSD are proving their value in real-world applications like donations and large-scale transactions,' Panos Mekras, CEO of Anodos Labs, a DeFi project on XRPL, said in a Telegram message.
'They offer fast, low-cost transfers, free from middlemen and banking restrictions, making them ideal for moving significant amounts efficiently and transparently, as Ripple's donation demonstrates."
RLUSD has a circulating supply of $316 million as of Tuesday, data shows. Security features make RLUSD appealing to institutional users.
An XRP Ledger amendment in January saw a 'clawback' feature go live on the network, allowing the issuer to reclaim or "claw back" certain tokens, such as RLUSD, from users' wallets under specific conditions.
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