As the release date approaches, Ripple has minted over 13 million RLUSD stablecoins

Tap to like and watch the live stream, let's chat!

This marks a key step for Ripple in preparing to launch the stablecoin after gaining regulatory approval from the New York Department of Financial Services (NYDFS).

During the minting process, RLUSD tokens have been distributed between the XRP ledger and the Ethereum network. Since RLUSD is fully backed by U.S. Treasury bonds, Ripple is conducting extensive testing to ensure cross-platform functionality. These steps are aimed at ensuring a smooth launch, with Ripple CEO Brad Garlinghouse confirming that they will officially announce the launch when the stablecoin goes live.

What sets RLUSD apart from its competitors is its compliance with U.S. regulations such as the Dodd-Frank Act, making it one of the few stablecoins approved by U.S. authorities. Ripple's transparency approach (including real-time audits) further distinguishes it from other stablecoins like USDT and USDC, which have faced stricter scrutiny.

Ripple's XRP token is also benefiting from these developments, with its price rising from $1.90 to $2.35. Analysts believe that the launch of RLUSD could drive XRP further up, especially if the stablecoin integrates into the decentralized finance (DeFi) ecosystem, which could generate additional demand. Notably, a significant amount of XRP transfers are underway, indicating growing interest in the Ripple ecosystem as the stablecoin's release approaches.

Tap to like and watch the live stream, let's chat!