Ripple Burns 185 RLUSD Coins to Prepare for Public Launch

• Ripple has burned 185 RLUSD coins, reducing the total circulation to zero to control the initial supply.
• The stablecoin, currently in private beta, remains untradeable and limited to corporate partners.
• Ripple’s dual-platform strategy for RLUSD tests blockchain stability and transparency through regular audits.

Ripple Labs recently destroyed 185 Ripple USD (RLUSD) tokens, returning them to the issuer account. According to data from XRPScan, this move brings the total RLUSD tokens in circulation to zero. The decision to burn tokens aligns with Ripple’s goal to control the initial supply and avoid premature market entry, ensuring regulatory compliance and stability.

Ripple’s Stablecoin Still in Testing Phase

Ripple started private beta testing of its stablecoin, RLUSD, last month. The stablecoin’s mainnet version is currently live on the Ethereum network. Ripple plans to extend to additional blockchains and decentralized finance (DeFi) protocols in the future. At the moment RLUSD tokens are circulating on Ethereum or the XRP Ledger, highlighting its limited accessibility. The stablecoin remains available only to selected corporate partners and is not yet tradable on exchanges.

Strategic Moves to Ensure a Successful Launch

Ripple intends to release RLUSD to the general public following the completion of the beta testing phase. The company aims to eliminate potential technical issues and regulatory challenges before the broader launch. Despite the competition from other stablecoins like Tether and Circle, Ripple sees substantial growth potential in the market, which is expected to reach $2.8 trillion by 2028.

Ripple created 200 RLUSD tokens on the Ethereum network and 185 on the XRP Ledger on August 22, using a dual-platform strategy to test blockchain interoperability and stability. Each RLUSD token maintains a 1:1 peg to the US dollar, backed by reserves held by an impartial third-party agency. Regular audits and attestations ensure transparency and accuracy in reserve management.

Partnerships with Global Financial Institutions

Ripple has partnered with major financial institutions in China, Hong Kong, and the Philippines, including Standard Chartered Bank and the Agricultural Bank of China. These partnerships underline the company’s commitment to expanding its footprint in the global financial landscape and achieving broader adoption of its stablecoin.