Ripple USD: The Stablecoin That’s Making Waves in Wall Street Journal!

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In the bustling bazaar of the XRP community, a notable figure, @BankXRP, with a legion of over 229,000 followers on the grand stage of X, has unveiled a spectacle—a photograph of an RLUSD advertisement. This morning, the Wall Street Journal, that venerable tome of financial wisdom, bore witness to this proclamation.

RLUSD ad in fresh WSJ issue

In bold, audacious letters, the ad proclaims: “A new stablecoin from Ripple. Now that’s headline news. Say hello to Ripple USD. A stablecoin backed by over 10 years of onchain expertise.” Ah, the audacity! As if we needed reminding of their decade-long journey through the digital wilderness.

And as if that wasn’t enough, it adds: “Plus, we’re regulated. But that seems obvious, so we put it down here.” Oh, the irony! A regulated stablecoin, how quaint! 😏

Ripple RLUSD Stablecoin Ad in This Morning’s The Wall Street Journal.

— 𝗕𝗮𝗻𝗸XRP (@BankXRP) January 29, 2025

The tweet, like a spark in a dry forest, ignited a flurry of exuberant comments from XRP holders and supporters, all clamoring for the expansion of RLUSD and XRP into the farthest corners of the globe. The enthusiasm was palpable, like children at a candy store! 🍬

Ripple USD reserves revealed in report

Earlier this week, the independent auditors at BMP, those diligent guardians of financial truth, released a report detailing the reserves amassed by Ripple to support its freshly minted RLUSD stablecoin.

According to their findings, at the close of the previous year, Ripple had conjured an impressive 77,208,201 RLUSD, backed by a treasure trove of reserves exceeding $83,214,671. Yes, you heard it right! The report assures us that RLUSD is indeed tethered to the USD at a 1:1 ratio, with a coverage ratio of 177.77%. The crown jewel of this coverage? U.S. Treasuries worth a staggering $30,095,603. Who knew stablecoins could be so… stable? 💰

RLUSD made its grand debut at the dawn of December, after a gestation period that began in March. In late August, Ripple began minting trial batches of RLUSD, only to send them to unspendable blockchain addresses to burn them. A dramatic flair, indeed! Soon after its launch, major exchanges like Bitstamp and Bullish couldn’t resist the allure of this new product.

Ripple’s president, Monica Long, in a tête-à-tête with Bloomberg, revealed that Ripple is currently in negotiations with titans like Coinbase and Binance. She hinted that the listing of RLUSD on other platforms is just around the corner. The suspense is killing us! 😱

Ripple mints 4,250,000 RLUSD

According to the ever-watchful Ripple Stablecoin Tracker, in recent days, the blockchain behemoth has minted two batches of RLUSD—1,050,000 and a whopping 3,200,000 stablecoins. Talk about minting money! 💵💵💵💵💵💵

💵💵💵💵💵💵 3,200,000 #RLUSD minted at RLUSD Treasury.

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

However, the mystery remains: were these coins whisked away from the Ripple Treasury, or are they still lounging around? The world may never know!

As it stands, RLUSD holds the illustrious 3,059 position on CoinMarketCap, with a market capitalization of approximately $53.1 million. The self-reported circulating supply? A neat 53.1 million RLUSD. A round number, indeed! 🎉

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2025-01-30 18:40