Ripple has introduced an additional 1.35 million RLUSD stablecoins on the XRP Ledger, marking a significant milestone for the token. This rollout indicates the project’s advancement towards its final phase, with Ripple’s leadership emphasizing the expansion of the XRPL network following the resolution of the SEC lawsuit.
How Is RLUSD’s Supply Growing?
The RLUSD stablecoin initiative is gaining momentum, with Ripple recently minting a total of 2.45 million RLUSD in October alone. The minting process unfolded in four distinct phases, with this latest issuance being the largest to date. Ripple has tied this expansion to liquidity enhancement efforts and the objective of rigorously testing RLUSD under diverse conditions.
What Regulatory Hurdles Remain?
While the full launch of RLUSD awaits regulatory approvals, Ripple is committed to navigating the compliance landscape. The company is proactively bolstering its legal team to ensure alignment with U.S. regulations, especially given the challenges faced by other stablecoin creators. Ripple Board Chair Monica Long remarked that legal approval is crucial for the stablecoin’s market integration.
Key insights regarding Ripple’s current progress include:
- 1.35 million RLUSD stablecoins launched recently.
- A total of 2.45 million RLUSD minted in October.
- Ongoing tests on both XRP Ledger and Ethereum to ensure functionality.
- Ripple’s expansion of legal and compliance teams to meet regulatory standards.
The recent developments surrounding RLUSD and the potential approval of the XRP ETF are generating optimism within the Ripple community. Analysts point to significant whale activities, with a large quantity of XRP tokens being purchased, suggesting anticipation of upcoming announcements that could influence market dynamics.