XRP distributed 2,500,000 RLUSD, their trial dollar-linked stablecoin. This action probably indicates continued evaluation and advancement of their stablecoin project.
Furthermore, a study from an XRP Ledger authenticator suggests minimal RLUSD incineration thus far.
A prominent Ripple figure, Jack McDonald, leading their stablecoin efforts and heading Standard Custody as CEO, reported RLUSD processing a staggering $7.35 billion in exchanges within its initial two months across the XRP Ledger and Ethereum networks. This volume significantly surpasses that of numerous other stablecoins during a comparable period. He further noted its presence on platforms such as ZeroHash and Revolut, highlighting robust reserves exceeding the roughly $130 million circulating supply by $7 million. Essentially, ample backing exists for each extant RLUSD.
McDonald also emphasized growing interest from major institutions in utilizing RLUSD for on-chain asset collateralization, a positive indicator for future prospects. Another Ripple leader, Reece Merrick, added that many financial entities are exploring RLUSD for global remittances and internal fund transfers. They apparently perceive it as a more expeditious and economical option compared to conventional approaches. Bitcoin Falls to $82,400, While Ancient8 and Apu Apustaja Resist Expectations with Gains Exceeding 100%
