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. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
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.
