2,008,333 RLUSD Issued: Ripple’s Latest Minting Revealed

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Over the past 24 hours, the Ripple stablecoin Treasury has released approximately 2,008,333 units of RLUSD. This information was shared via a tweet by the Ripple Stablecoin Tracker, a community account that monitors the creation, redemption, and movement of the RLUSD tokens, drawing attention to this recent activity at the RLUSD Treasury.

šŸ’µšŸ’µšŸ’µšŸ’µšŸ’µšŸ’µ 2,008,333 #RLUSD minted at RLUSD Treasury.

ā€” Ripple Stablecoin Tracker (@RL_Tracker) January 17, 2025

The latest coin production incident underscores the ongoing growth of RLUSD, as consistent emission indicates an increasing appetite for Ripple’s stablecoin.

2,008,333 RLUSD were minted within the past 24 hours from the RLUSD Treasury. On January 16th, there were two separate batches of RLUSD minting at the RLUSD Treasury: one for 690,000 RLUSD and another for 5,178,226 RLUSD, totaling 5,868,226 RLUSD.

The minting events occur at a time when there’s increased curiosity about stablecoins, which serve as safe havens amid the unpredictable nature of the cryptocurrency market. Stablecoins are built to preserve a consistent value by being tied to a reserve asset, like the U.S. dollar. In this instance, the RLUSD token is fully collateralized by U.S. dollar deposits, U.S. government bonds, and cash equivalents.

Ripple stablecoin gains traction

Ripple USD (RLUSD) stablecoin officially launched on global exchanges Dec. 17, 2024.

This year, Ripple revealed that they’ve integrated the Chainlink Standard to enhance the functionality and availability of Ripple USD (RLUSD). By adopting this standard, Ripple is able to offer the RLUSD ecosystem access to premium off-chain data sourced from Chainlink’s network. This network has supported transactions worth over $18 trillion in value so far.

On the XRPL and Ethereum blockchain platforms, RLUSD tokens can naturally integrate with smart contract-based apps like those found within DeFi, allowing for seamless functionality.

At first, RLUSD was made available on Uphold, Bitso, MoonPay, Archax, and CoinMENA, with further listings expected on Bullish and Bitstamp, among others. Ripple’s President, Monica Long, anticipates the RLUSD stablecoin to expand to more platforms very soon, and she hints at an upcoming XRP Exchange-Traded Fund (ETF).

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2025-01-18 16:07