Ripple USD (RLUSD) Ad Spotted in Wall Street Journal's Fresh Issue

A major member of the XRP community, @BankXRP, with over 229,000 followers on the social media giant X, has published several photos of an RLUSD ad. He stated that this advertisement was published in the Wall Street Journal this morning.

RLUSD ad in fresh WSJ issue

The ad says in large letters: “A new stablecoin from Ripple. Now that’s headline news. Say hello to Ripple USD. A stablecoin backed by over 10 years of onchain expertise.”

It also says: “Plus, we’re regulated. But that seems obvious, so we put it down here.”

The tweet was met with a wave of enthusiastic comments by XRP holders and supporters eager to see RLUSD and XRP adoption expand worldwide.

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Ripple USD reserves revealed in report

Earlier this week, independent auditing company BMP published a report sharing data on the reserves accumulated by Ripple to back its recently launched RLUSD stablecoin.

According to the document, at the end of last year, Ripple minted an impressive 77,208,201 RLUSD, and this amount of crypto was backed by a sum of reserves that surpassed that stash — $83,214,671. Therefore, the report says, RLUSD is indeed pegged to USD at a 1:1 ratio with a coverage ratio of 177.77%. The biggest portion of this coverage constitutes U.S. Treasuries worth $30,095,603.

RLUSD was officially launched at the start of December. Prior to that, the stablecoin had been in development since March. In late August, Ripple began minting the first trial batches of RLUSD and then sent them to unspendable blockchain addresses to burn them. Soon after the launch, several major exchanges listed the new product — Bitstamp and Bullish.

Ripple president Monica Long said in an interview with Bloomberg that Ripple is negotiating with other platforms now, including such monsters as Coinbase and Binance. She stated that RLUSD listing on other platforms was imminent.

Ripple mints 4,250,000 RLUSD

According to data provided by the Ripple Stablecoin Tracker account, over the past few days, Ripple blockchain giant has minted two RLUSD batches — 1,050,000 and 3,200,000 RLUSD stablecoins.

No data was provided as to whether these coins were moved away from the Ripple Treasury or not.

Currently, RLUSD occupies the 3,059 position on CoinMarketCap, with a market capitalization value standing at roughly $53.1 million. The self-reported circulating supply totals 53.1 million RLUSD.