Ripple has recently burned 185 Ripple USD (RLUSD) tokens at its RLUSD Treasury. The tokens were destroyed by being sent back to the issuer account. As a result, there are currently no RLUSD tokens in circulation on the XRP Ledger or Ethereum. This move marks a significant step in Ripple's ongoing testing of its stablecoin, which began earlier this month in private beta.
The minting process for RLUSD started about a week ago with the issuance of 185 tokens, according to data provided by XRP Scan. Only some of Ripple's enterprise partners can use it at this stage, while the stablecoin is currently not traded on any exchange. Ripple is also keen to make the transition smooth by considering all the possible complications at this testing phase.
The post "Ripple Burns 185 RLUSD Tokens as Stablecoin Testing Progresses" first appeared on 36crypto.com News.
