Ripple continues on-chain testing of its Ripple USD (RLUSD) stablecoin ahead of its anticipated launch. According to data from “Ripple Stablecoin Tracker” on X (formerly known as Twitter), Ripple Treasury recently minted tens of millions of RLUSD. These batches were transferred, often to anonymous blockchain addresses. This follows Ripple’s announcement of liquidity partners for the stablecoin, and CEO Brad Garlinghouse’s claim that RLUSD will set the “gold standard” for enterprise-grade stablecoins.
42 Million RLUSD Transferred Across Six Transactions
Ripple Stablecoin Tracker highlighted six major RLUSD transactions. In total, 42 million stablecoins moved between various wallets.
Related article: Ripple Swell 2024 Kicks Off Amid Hopes for RLUSD Stablecoin Launch Announcement
The largest of these transactions involved 18,000,000 RLUSD, while two others transferred 9,000,000 RLUSD each. Another transaction moved 4,000,000 RLUSD, and the smallest ones transferred 1,000,000 RLUSD each.
These transfers, mostly occurring between “RLUSD Treasury” accounts or unknown wallets, have created significant buzz in the crypto community. Several users on X praised Ripple and XRP, with one user predicting that one billion RLUSD will be minted soon.
Ripple CEO Confirms RLUSD’s Potential
In a tweet, Brad Garlinghouse addressed RLUSD’s development, coinciding with the start of Ripple’s annual event, Swell. During the event, crypto industry leaders speak to XRP enthusiasts, sharing experiences and ideas.
Garlinghouse reminded his audience that RLUSD has been nearly a year in the making. Following Ripple’s announcement of exchanges and market makers for RLUSD liquidity, Garlinghouse reiterated that the stablecoin will set the standard for enterprise-grade stablecoins, emphasizing trust, liquidity, and regulatory compliance.
Related article: Ripple President Highlights Plans to Use XRP Alongside RLUSD in Payment Network
Monica Long also tweeted about RLUSD’s future, confirming it will work alongside XRP within Ripple’s ecosystem.
This statement further fueled excitement within the XRP community, many of whom are eagerly awaiting RLUSD’s official launch.
