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Ripple's stablecoin, RLUSD, has seen significant activity in the last 24 hours. According to the Ripple stablecoin tracker, an X account tracking the minting, redemption and transfer of Ripple's RLUSD, a total of 3,000,000 RLUSD were transferred from one unknown wallet to another.
The transfer follows a recent minting at the RLUSD Treasury. In the last 24 hours, Ripple minted 3,000,000 RLUSD, adding to the circulating supply of the RLUSD stablecoin. Additionally, another 404,712 RLUSD were minted at the RLUSD Treasury, further increasing the total supply.
This operation is part of Ripple's ongoing efforts to bolster the liquidity and utility of the Ripple stablecoin. The recent minting and transfer activities might also signal possible preparations for wider adoption across exchanges and platforms.
Ripple stablecoin gains traction
Since its launch, RLUSD has gained traction, launching on various platforms. Ripple USD (RLUSD) went live globally on Dec. 17, initially on platforms such as Uphold, MoonPay, CoinMENA, Archax and Bitso, with more listings expected in the coming days.
Tomiwabold OlajideIn its latest listing, Bullish announced yesterday that Ripple’s regulated stablecoin, RLUSD, was now available on the platform. This move allows eligible regions to trade markets, including RLUSD/USDC, BTC/RLUSD, XRP/RLUSD, ETH/RLUSD, USD/RLUSD, EUR/RLUSD and SOL/RLUSD.
As reported, Ripple stablecoin RLUSD recently achieved a significant milestone, marking its entry into the Singapore market. Independent Reserve, a long-standing Ripple partner, has become the first regulated exchange to offer RLUSD in Singapore.
RLUSD, a stablecoin valued one-to-one with the U.S. dollar, is issued natively on both the XRP Ledger and Ethereum networks and may be used in several applications and use cases, from cross-border payments to decentralized banking.
Denys Serhiichuk
Yuri Molchan
Dan Burgin
Alex Dovbnya