In this post. Ripple Treasury has minted 300,000 RLUSD in preparation for the debut of its stablecoin.
Mining of Ripple's stablecoin is growing on the #XRP and Ethereum blockchains.
Monica Long, president of #Ripple , explained that the scenarios of using the steblecoin include payments with the XRP payment solution.
Ripple is stepping up its activities related to the development of a stablecoin RLUSD on Ethereum and XRP networks. According to the Ethereum #blockchain tracker, Ripple recently mined 300,000 RLUSD as part of testing its stablecoin; data from Onchain indicates that Ripple Labs is conducting similar #mining activities.
Ripple Labs has recently stepped up its activities to develop a blockchain for a stable Ripple USD coin on the XRP and Ethereum blockchains. Etherscan, an Ethereum blockchain researcher, reported that on September 28 at 3:13:47 UTC, the company mined 300,000 RLUSD in its vault.
Ripple Stablecoin Tracker, the X account that tracks the activity of the promising stablecoin, flagged a mining transaction. The announcement has generated a lot of enthusiasm among members of the Ripple community.
the mining transaction was one of the recent RLUSD transactions on the blockchain noted by X's account, Ripple Stablecoin Tracker. User X also noted another RLUSD 50,000 mining transaction minted on the RLUSD treasury; according to Etherscan, this transaction occurred on September 27 at 11:38:59 PM UTC.
Ripple Labs also minted $5,515 on September 25 at 05:35:59 PM UTC; on September 24, Ripple minted another $485 and burned 50 RLUSD. These and many other activities on the blockchain have been ongoing since Ripple Labs announced on August 9 that it had begun private beta testing of the stablecoin.
Notably, Ripple said in the announcement that RLUSD has not yet received regulatory approval and therefore cannot be bought or exchanged.
We see different scenarios for using stablecoin and XRP in payments and other transactions.
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