[Ripple mints 350,000 RLUSD stablecoins in 24 hours]
Ripple caught the market’s attention when it minted 350,000 RLUSD stablecoins in the past 24 hours, split into two transactions of 300,000 and 50,000. Currently, the RLUSD stablecoin is in private beta testing on XRP Ledger and the Ethereum mainnet.
Ripple began testing RLUSD back in early August with the goal of ensuring the stablecoin met high standards before widespread rollout and regulatory approval. Ripple first announced plans to launch USD-pegged RLUSD in April, a major milestone on the XRP Ledger that aims to provide new liquidity and institutional use cases for users and developers. RLUSD will be backed by short-term U.S. Treasury securities, U.S. dollar deposits and cash equivalents.
This large-scale minting is one of Ripple’s tests for the launch of RLUSD within the year. At the same time, XRP Ledger recently introduced two new feature fixes, fixPreviousTxnID and fixEmptyDID, which have been enabled on the mainnet to improve ledger object behavior and support the upcoming DID.
XRP Ledger’s amendment system approves any changes affecting transaction processing through consensus, and when an amendment receives more than 80% support within two weeks, it becomes permanent.
