Ripple Transfers 42 Million RLUSD in 48 Hours, Community Abuzz

Ripple blockchain giant continues to test RLUSD on-chain prior to the launch, which now seems not very far away. According to data provided by the “Ripple Stablecoin Tracker” on the X platform (widely famous as Twitter in the past), recently, Ripple Treasury has minted several tens of millions of Ripple USD stablecoins.

After minting, these RLUSD batches were transferred and usually sent to anonymous blockchain addresses.

This happened after Ripple revealed its partners that will provide liquidity for the stablecoin, and the company’s CEO Brad Garlinghouse revealed that RLUSD was intended to become the gold standard for enterprise-grade stablecoins.

42 million RLUSD on move

Ripple Stablecoin Tracker has shared the details of six large RLUSD transactions, when a total of 42 million stablecoins were moved. The data source marked those transfers as made either from “RLUSD Treasury to RLUSD Treasury” or facilitated between two “unknown wallets.”

The largest transfer of these six carried an astounding 18,000,000 RLUSD. Two smaller ones carried half the crypto – 9,000,000 RLUSD each. One transfer moved 4,000,000 RLUSD, while the two smallest ones helped shovel 1,000,000 RLUSD each.

The crypto community reacted enthusiastically, posting multiple comments under those tweets. Many praised XRP and Ripple, and one X user stated that he expects one billion RLUSD to be minted soon.

Related

Wed, 10/16/2024 - 10:19

Ripple President Speaks out on RLUSD Use Cases as Launch Draws Near

Yuri Molchan

Ripple CEO and Ripple president speak out on RLUSD

In a recent tweet, Ripple chief executive Brad Garlinghouse made a statement on RLUSD, while commenting on the start of the annual event Ripple Swell, where keynote figures in the crypto industry speak on stage in front of an audience of XRP loves, and the XRP army meets to exchange experience and share their ideas.

Garlinghouse reminded his readers on X that by now, RLUSD has been almost a year in the making. He also said that at Swell, Ripple announced the crypto exchanges and market makers that will help RLUSD with liquidity, and that “RLUSD is set to become the gold standard for enterprise-grade stablecoins” as it is built based on trust, liquidity and compliance with regulators.

As for Ripple President Monica Long, she recently tweeted that RLUSD will be used alongside XRP on the Ripple network, which certainly pleased the XRP community.