Ethereum

Minted

Ripple USD

DeFi

Ripple, the US-based enterprise company behind the third-largest cryptocurrency by market cap, made the headlines on December 16, announcing that its long-anticipated stablecoin is finally ready to be deployed, which will happen later today.
There were a lot of speculations and fraud attempts ahead of the official statement, but CryptoQuant’s <a href="https://cryptoquant.com/insights/quicktake/67608bd306ecb73388485814-RLUSD-is-launching-tomorrow?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=quicktake&amp;utm_content=maartunn&amp;utm_term=xrpl" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">data</a> shows that the actual number of minted new tokens has risen to almost $66 million.
Interestingly, the majority of the RLUSD coins are on the Ethereum network – $52.9 million, while only $13.3 million have been minted on Ripple’s own – XRPL.
<figure id="attachment_374924" aria-describedby="caption-attachment-374924" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/12/321323.webp" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="size-full wp-image-374924" src="https://cryptopotato.com/wp-content/uploads/2024/12/321323.webp" alt="Minted RLUSD Ahead of Launch. Source: CryptoQuant" width="1280" height="720" srcset="https://cryptopotato.com/wp-content/uploads/2024/12/321323.webp 1280w, https://cryptopotato.com/wp-content/uploads/2024/12/321323-300x169.webp 300w, https://cryptopotato.com/wp-content/uploads/2024/12/321323-1024x576.webp 1024w, https://cryptopotato.com/wp-content/uploads/2024/12/321323-768x432.webp 768w, https://cryptopotato.com/wp-content/uploads/2024/12/321323-50x28.webp 50w" sizes="(max-width: 1280px) 100vw, 1280px"></a>
 <figcaption id="caption-attachment-374924" class="wp-caption-text">
 Minted RLUSD Ahead of Launch. Source: CryptoQuant
 </figcaption>
</figure>
The numbers are quite impressive, given the fact that the stablecoin has not officially seen the light of day yet. This is scheduled to take place later today, as <a href="https://cryptopotato.com/xrp-price-on-the-move-as-ripple-announces-stablecoin-launch-on-dec-17/" data-wpel-link="internal" rel="noopener noreferrer nofollow">reported</a> yesterday.
After receiving the necessary green light from the NYDFS, Ripple’s team announced on December 16 that RLUSD was going live the next day. Moreover, the stablecoin Advisory board has seen a couple of new additions – Raghuram Rajan (former RBI governor) and Kenneth Montgomery (former First VP and COO of Boston’s Federal Reserve).
Ripple described RLUSD as the “future of finance.” It’s a stablecoin fully backed by US dollar deposits, government bonds and “other cash equivalents with monthly third-party audits.” It will receive multi-chain support, which is already evident by the minting process on Ethereum and XRPL, with other networks coming later.
RLUSD is built for “cross-border payments, DeFi integration, and bridging between fiat and crypto.”
Ripple aims to enter a highly competitive and growing stablecoin market. The total value of all such tokens has shot above $200 billion recently and is mostly dominated by Tether’s USDT and Circle’s USDC.
The post <a href="https://cryptopotato.com/heres-how-much-ripple-usd-rlusd-has-been-minted-ahead-of-todays-launch/" rel="noopener noreferrer nofollow">Here’s How Much Ripple USD (RLUSD) Has Been Minted Ahead of Today’s Launch</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Here’s How Much Ripple USD (RLUSD) Has Been Minted Ahead of Today’s Launch

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