Stablecoin

Ethereum

when

Million

<ul class="wp-block-list"> 
 <li>Ripple is gearing up for a crucial period of regulatory reviews and market integration.</li> 
 <li>To maintain parity, Ripple has been simultaneously minting RLUSD on the Ethereum network.</li> 
</ul> 
In an effort to make sure the stablecoin works well when it launches, <a href="https://thenewscrypto.com/ripple-obtained-in-principle-approval-from-dfsa-to-expand-operations-in-uae/" target="_blank" rel="noreferrer noopener">Ripple</a> has minted an additional 1.35 million RLUSD to the XRP Ledger. Ripple is gearing up for a crucial period of regulatory reviews and market integration, which is when this development occurs. 
With 2.45 million <a href="https://thenewscrypto.com/ripple-prepares-for-rlusd-launch-with-major-xrp-ledger-upgrades/" target="_blank" rel="noreferrer noopener">RLUSD</a> created in October alone, Ripple Labs has been ramping up the minting of its RLUSD stablecoin. The most recent minting, which took place on the XRP Ledger, included the minting of 1.35 million RLUSD and was one of four separate batches. Up until this point, this massive tranche has been the most noteworthy issuance. It also shows that the Ripple team is trying to increase liquidity and put RLUSD through its paces in different environments. 
<h3 class="wp-block-heading" id="h-getting-ready-ahead-of-regulatory-clearance">Getting Ready Ahead of Regulatory Clearance</h3> 
Previous mints by the firm included smaller batches, such as the 80,000 RLUSD stablecoin that was recently minted, in addition to the 1.35 million tokens. All of these moves point to the corporation being ready to launch RLUSD, pending clearance from regulators. 
To maintain parity, Ripple has been simultaneously minting RLUSD on the <a href="http://ethereum.org" target="_blank" rel="noreferrer noopener nofollow">Ethereum</a> network and the XRP Ledger (XRPL) network. One way to improve scalability is to split token distribution across these two blockchains. It also guarantees that the stablecoin will work well in a scenario where many chains are active. 
A lesser number of tokens, including a 500,000 RLUSD tranche, were created on Ethereum, however the XRPL has issued the vast bulk of tokens. 
The complete launch of RLUSD is still contingent upon regulatory clearance, even though minting has advanced. In light of the recent legal challenges encountered by other stablecoin issuers, such as Paxos and TrueUSD, the firm is eager to guarantee that the stablecoin adheres to U.S. legislation. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/is-solanas-7-price-drop-a-signal-of-a-bigger-trend/" target="_blank" rel="noreferrer noopener">Is Solana’s 7% Price Drop a Signal of a Bigger Trend?</a>

Ripple Mints Additional 1.35 Million RLUSD Stablecoin on XRPL

Table of Contents

TheNewsCrypto

Other articles published on Oct 2, 2024

Skip PEPE And WIF Here’s The Major Breakthrough Altcoin For Maximum Returns On Investment

BitGo Announces USDS Stablecoin Amid WBTC Controversy

Hacker Pleads Guilty to $37 Million Crypto Theft

Market Reactions Shift as Fed and FTX Act

From Illiquidity to Inclusivity: How Qubetics Is Redefining Global Finance with Asset Tokenization

Mpeppe Presale Hits $3M As Mpeppe Releases New Telegram Gaming Platform

Join our free newsletter for daily crypto updates!