Millions of RLUSD Ready to Hit Market After Recent Launch: Details

Blockchain behemoth Ripple already launched the much-anticipated RLUSD stablecoin earlier this week. It continues to mint stablecoins, shoveling more than 10 million over the past two days.

Data has been officially published by the Ripple Stablecoin Tracker account on X.

10.3 million RLUSD moved by Ripple

The above-mentioned data source spread the word about a large amount of Ripple USD stablecoins minted by the San Francisco-based crypto decacorn. More than 10,300,000 RLUSD were transferred over the past 48 hours.

Those 10.3 million stablecoins were transferred in batches of one million and 500,000 RLUSD.

A total of 500,000 RLUSD from the aforesaid amount was transferred from the Ripple Treasury to cryptocurrency exchange Uphold based in Lithuania.

Related

Thu, 12/19/2024 - 09:20

Massive 400 Billion SHIB From Early Whale Stuns Major US Exchange

Yuri Molchan

Ripple president speaks out on RLUSD launch

Today, Ripple published a post with a video extract of an interview with its president Monica Long, speaking on the recently launched RLUSD stablecoin. She reminded the crypto community that the stablecoin market is currently valued at $160 billion, approximately, and it is predicted to show growth to as high as roughly $3 trillion within the next four years.

In this market, Long said, there is a constantly growing demand for stablecoins that prioritize “regulatory compliance, increased diversification and drive utility.” All od those, the Ripple president stressed, are offered by the Ripple stablecoin.

For Ripple, Monica Long said, the launch of RLUSD is another big step for continuing to “bridge the gap between traditional finance and blockchain.”