As a seasoned researcher with a penchant for all things blockchain and digital assets, I find myself intrigued by Ripple‘s recent stablecoin activity. The 3 million RLUSD transfer between unknown wallets and the subsequent minting at the RLUSD Treasury are indicative of a growing ecosystem that’s gearing up for wider adoption.
In the past day, there has been substantial movement with Ripple’s stablecoin, RLUSD. As shown by the Ripple stablecoin monitor, which keeps tabs on the creation, exchange, and shifting of RLUSD, a sum of 3 million RLUSD was transferred from one unidentified wallet to another.
🚨🚨🚨🚨🚨🚨 3,000,000 #RLUSD transferred from unknown wallet to unknown wallet.
— Ripple Stablecoin Tracker (@RL_Tracker) December 24, 2024
The transaction is based on a recent creation of RLUSD at the RLUSD Treasury. In the past day, an additional 3,000,000 units of RLUSD were produced, expanding the existing circulating stock of the RLUSD stablecoin. Furthermore, another 404,712 RLUSD were created at the RLUSD Treasury, boosting the overall inventory as well.
This action aligns with Ripple’s continuous work to strengthen the fluidity and usefulness of their stablecoin. Recent activities involving minting and transfer could hint at potential plans for broader acceptance on various exchanges and platforms.
Ripple stablecoin gains traction
After its debut, Ripple USD (RLUSD) has been gaining popularity and has become available across multiple platforms. On December 17, it was introduced worldwide on platforms like Uphold, MoonPay, CoinMENA, Archax, and Bitso. Further listings are anticipated in the near future.
Yesterday, Bullish revealed that they’ve added Ripple’s regulated stablecoin, RLUSD, to their platform, giving approved regions the opportunity to trade various markets such as RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD, and SOL/RLUSD.
It’s been announced that Ripple’s stablecoin, RLUSD, has made a notable advancement by entering the Singapore market. Notably, Independent Reserve, a long-term collaborator of Ripple, is now the first regulated exchange to provide trading for RLUSD in Singapore.
The digital currency RLUSD, which maintains a fixed value equivalent to the US dollar, can be found on both the XRP Ledger and Ethereum platforms. This versatile token can be applied in various scenarios such as international transactions, borderless payments, and even decentralized banking solutions.
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2024-12-25 16:09