Blimey! Ripple’s Stablecoin is on a Roll, Old Bean!

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Well, I say! It seems old Ripple has been up to its old tricks again, minting a whopping 1,050,000 of its RLUSD tokens. This news is sure to get the old ticker tape going like a demented tap dancer, what with the stablecoin market being all the rage these days. You see, this RLUSD chap is a bit of a swanky fellow, being all USD-denominated and boasting a value of 1:1 with the old American greenback.

💵💵💵💵💵💵 1,050,000 #RLUSD minted at RLUSD Treasury.

— Ripple Stablecoin Tracker (@RL_Tracker) January 29, 2025

Now, this RLUSD isn’t your average Joe stablecoin, mind you. It’s a proper gent, issued on both the XRP Ledger and Ethereum blockchains, and knows how to play with smart contracts. He even releases a fancy Reserve Report every month, giving everyone a peek at his assets, which apparently include U.S. Treasury Bills and a bit of cash on the side. Not bad, eh?

RLUSD: The Real Deal

But wait, there’s more! This RLUSD has been up to his eyeballs in partnerships, too! He’s teamed up with Ondo Finance to bring a tokenized U.S. Treasury to the XRP Ledger, offering institutional investors a chance to get their hands on some fancy OUSG. Talk about a busy bee!

And it seems that the demand for this digital asset malarkey is just as high as a kite. With stablecoins becoming as common as a good cuppa, the old Ripple team is predicting that these fancy coins will be the cat’s meow in 2025. They reckon we’ll even see some brand new asset classes popping up. Fancy that!

Ripple’s Senior Vice President of Stablecoins, Jack McDonald, thinks we’re going to see a bit of a shake-up in the stablecoin world. He’s saying only the big boys with institutional backing and proper compliance will survive the “war of attrition.” Well, that’s a right proper kick in the pants for the little guys, isn’t it? 😠

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2025-01-29 13:56