Ripple Completes Major RLUSD Stablecoin Mint, Signals Upcoming Public Launch

• Ripple minted 350,000 RLUSD stablecoins in two transactions during a private beta testing phase on XRP Ledger and Ethereum.
• The RLUSD stablecoin is backed by U.S. Treasury securities, dollar deposits, and cash equivalents, ensuring stability and trust.
• The testing phase is a crucial step to ensure the RLUSD stablecoin meets high security and efficiency standards before a public launch.

Ripple has minted 350,000 RLUSD stablecoins within 24 hours as part of its private beta testing phase. This mint was executed in two transactions, with one for 300,000 RLUSD and another for 50,000 RLUSD. According to a Ripple stablecoin tracker run by the XRP Ledger community, this significant activity comes as Ripple ramps up its testing of the RLUSD stablecoin.

Ripple’s RLUSD Stablecoin in Testing

Ripple’s RLUSD stablecoin is pegged to the U.S. dollar and is currently in its testing phase on both XRP Ledger and Ethereum’s mainnet. The private beta, which started in August, is crucial for ensuring that RLUSD meets rigorous security and efficiency standards before it is widely distributed and receives regulatory approval. Ripple has stated that thorough testing is necessary to guarantee reliability in real-world use cases.

The RLUSD stablecoin is backed by short-term U.S. Treasury securities, dollar deposits, and cash equivalents. This ensures that it maintains a high level of trust and stability, essential for potential users, developers, and institutional partners.

Preparation for Public Launch

The recent minting spree signals Ripple’s ongoing commitment to testing and refining RLUSD ahead of a broader public release. Since first announcing plans to launch the RLUSD stablecoin in April, Ripple has emphasized the token’s potential to unlock new opportunities in liquidity, institutional use cases, and decentralized applications on the XRP Ledger.

As the RLUSD stablecoin undergoes rigorous testing, it is being positioned as a high-quality asset that could reshape liquidity solutions for decentralized finance (DeFi) markets.

XRP Ledger Upgrades Ahead of RLUSD Launch

In addition to RLUSD testing, the XRP Ledger recently activated two significant amendments to its mainnet. These upgrades, which include fixes for transaction IDs and support for decentralized identities (DID), enhance the network’s functionality. The amendments were approved through XRP Ledger’s consensus process, ensuring a permanent improvement to the ledger’s transaction processing capabilities.

These developments mark a crucial period for Ripple, as the company pushes forward with the testing and expected launch of RLUSD later this year.