Ripple Mints 600,000 RLUSD Tokens Ahead of Attestation Report

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As a seasoned researcher who has followed Ripple‘s journey since its inception, I find it fascinating to see the company taking strides towards the mainstream adoption of blockchain technology. The recent minting of 600,000 RLUSD tokens is another step in this direction. While I am not a fan of the volatility that often characterizes the crypto space, I appreciate the 7% over-collateralization of RLUSD, which offers a sense of stability and security for investors like myself.

The upcoming attestation report is something I eagerly look forward to, as it will provide valuable insights into the composition of the backing assets. Given that Ripple promised the first report within 30 days of public launch, I am excited to see if they deliver on their promise – after all, punctuality is a virtue every researcher appreciates!

I remember when RLUSD was initially announced back in April, and now seeing it obtain key approval from New York’s regulator and being launched with much fanfare last month, it’s clear that Ripple is making solid progress. I am optimistic about the future of this stablecoin and the impact it could have on the broader crypto market.

On a lighter note, I can’t help but wonder if one day we will see RLUSD being used to buy coffee at Starbucks or groceries at Walmart – now wouldn’t that be a game-changer? After all, who wouldn’t want to pay for their morning latte with some digital dollars?

According to the latest information from Ripple’s Stablecoin Tracker on the X social media platform, blockchain firm Ripple has produced an additional 600,000 RLUSD tokens.

Currently, as a researcher, I’m observing that Ripple holds approximately $83 million in reserves, supporting over $77.2 million worth of issued RLUSD.

This essentially means that RLUSD backing is 7% over-collateralized. 

This month, it’s anticipated that Ripple will make public an attestation document, detailing the nature of the assets making up their reserves.

Previously, it was mentioned that we would publish the initial report within a month following the public release of our stablecoin.

According to U.Today, the RLUSD was launched with great pomp last month following the essential green light from New York’s regulatory body.

The stablecoin product was initially announced back in April. 

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2025-01-03 23:56