Over just 24 hours, Ripple has minted 350,000 RLUSD stablecoins. Two distinct transactions, one for 300,000 RLUSD and the other for 50,000 RLUSD, were minted.
The XRPL community account Ripple Stablecoin Tracker, which specializes in tracking the minting and redemption of RLUSD stablecoins, initially reported this notable behavior. Currently, both the XRP Ledger and the Ethereum mainnet show Ripple’s RLUSD stablecoin in a private beta phase.
Ripple Expands Liquidity
Emphasizing that this phase is crucial for guaranteeing the best standards of security, efficiency, and dependability, Ripple started testing this stablecoin in early August on both blockchain systems.
Before moving on with a more extensive distribution and getting regulatory permission, Ripple wants to fix these features. Plans for the RLUSD stablecoin, linked to the US dollar, were initially revealed by XRP in April.
This stablecoin will add premium, dollar-pegged assets to the XRP Ledger, making its introduction a major turning point. XRP sees this as opening up new possibilities for developers and consumers alike in terms of liquidity, institutional use cases, and more general applications.
Short-term U.S. Treasury securities, dollar deposits, and cash equivalents. Ripple’s continuous aim to scale up testing ahead of the expected public release later this year includes this most recent minting operation.
With the recent activation of two amendments—fixPreviousTxnID and fixEmptyDID—on the network’s mainnet, XRP Ledger is also preparing for several new features. These changes address ledger object behavior and provide support for distributed identities (DIDs), per XRPL Explorer XRP Scan.
The amendment system allows validators to vote on new features, therefore changing the XRP Ledger. If an amendment is permanently implemented across all subsequent ledger versions if it attracts above 80% support over two weeks.
