Ripple’s RLUSD Stablecoin: Minted, Minted, and More Minting!

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In a move that’s sure to make your head spin faster than a washing machine on spin cycle, Ripple has just minted a whopping 2,500,000 RLUSD tokens. That’s right, folks – they’ve added more RLUSD to the market than there are grains of sand on a beach! 🏖️

But wait, there’s more! Just last month, Ripple took a brief pause from minting RLUSD, only to resume their money-printing ways on February 27th. On that fateful day, they issued a staggering 7.1 million RLUSD tokens, making us all wonder if they’re planning to build a new crypto-themed amusement park.

In a bid to keep things transparent (and perhaps to avoid any accusations of being shady), Ripple has released its attestation report for January 2025. Fear not, dear reader, for each RLUSD token is fully collateralized, ensuring stability and reliability for users. 🤑

In other news, Ripple has announced a partnership with BDACS to expand institutional crypto custody in South Korea. This partnership will provide secure infrastructure for XRP, RLUSD, and other crypto assets. 🤝

Ripple and Ondo Finance also announced a partnership in January to bring OUSG, tokenized U.S. Treasuries, to the XRP Ledger. These tokens will be minted and redeemed through RLUSD. 💸

RLUSD gains traction

The recently released RLUSD attestation report has sparked interest in the cryptocurrency community, with prominent XRP community members and Ripple executives sharing highlights from the report. 📈

In January, RLUSD experienced good market cap growth, reaching $130 million. Also, there was no major RLUSD burning, according to Vet, an XRPL dunl validator, who shared the report’s highlights on X.

💵💵💵💵💵💵 2,500,000 #RLUSD minted at RLUSD Treasury.

— Ripple Stablecoin Tracker (@RL_Tracker) February 28, 2025

According to Jack McDonald, Ripple’s SVP of Stablecoins and CEO of Standard Custody, RLUSD reached $7.35 billion in trading volume on XRPL and ETH in its first 60 days of operation (much larger volume than many others) and became available on ZeroHash and Revolut. RLUSD also remains over-reserved, with $7 million more in reserves than the overall RLUSD supply of around $130 million.

McDonald also notes increased inbound interest in adopting RLUSD for on-chain collateralization of tokenized assets, highlighting lots of possibilities ahead. Ripple executive Reece Merrick further reported that many financial institutions are interested in how RLUSD might be used for cross-border settlement and internal treasury payments.

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2025-03-01 17:40