The blockchain solutions giant, Ripple, continues to demonstrate its innovative spirit by strongly promoting its new stablecoin, RLUSD, generating a great stir in the cryptocurrency ecosystem. The platform has achieved an impressive milestone, catapulting the trading volume of RLUSD to astonishing levels, and a monumental announcement is on the horizon that could shake the foundations of the crypto market.
A Major Strategic Move
Recently, Ripple made a masterstroke by issuing 1.79 million RLUSD on the Ethereum blockchain. This operation, executed by Ripple Treasury, represents a crucial phase within a meticulously planned strategy. In less than 24 hours, the astonishing amount of 6.7 million of these stablecoins was moved among anonymous wallets and key industry players, such as Bitstamp.
Solidity and Confidence: Pillars of the RLUSD
The RLUSD, which operates on both Ethereum and XRP Ledger, is distinguished by having solid guarantees that back its value. So far, Ripple has set aside a reserve of 83 million dollars to support the 80 million RLUSD that are in circulation. This measure provides great confidence to users and the market in general.
Total Transparency: Attestation on the Way
To further reinforce transparency and confidence in the RLUSD, an attestation is expected at the end of this month. This public disclosure will detail the exact composition of the assets that back the stablecoin, providing greater clarity about its financial solidity.