On February 28th, Ripple introduced an additional 2.5 million RLUSD into the market, supplementing the 2 million previously distributed earlier in the day. This resulted in a total of 4.5 million for the 28th. This action came after a period of dormancy in RLUSD activity, with distributions resuming on the 27th with a substantial 7.1 million RLUSD entering circulation. Apparently, Ripple is reactivating the RLUSD supply.
Okay, a document indicates a lack of significant RLUSD incineration currently. However, a prominent Ripple figure, Jack McDonald, reported that RLUSD facilitated a substantial $7.35 billion in exchanges within two months post-launch, exceeding several competing stablecoins. It’s already accessible on venues such as ZeroHash and Revolut. He further highlighted surplus capital in their holdings, approximately $7 million beyond the $130 million of circulating RLUSD.
McDonald suggested major corporations are considering RLUSD for securing their blockchain holdings, potentially a significant development. A fellow Ripple executive, Reece Merrick, added that financial entities are discussing utilizing RLUSD for global remittances and internal fund transfers. In essence, they anticipate a promising outlook for RLUSD. Prominent Crypto Anarchist Calls for Incineration of Quantum-Compromised Bitcoin
