Ripple Issues 600,000 RLUSD Tokens: What's Next?

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by Giorgi Kostiuk

2 years ago

Ripple, known for its blockchain solutions, has minted an additional 600,000 RLUSD tokens, boosting its reserves, which raises interest ahead of the upcoming attestation report.

Recent Update: 600,000 RLUSD Tokens Minted

Blockchain technology company Ripple has minted 600,000 additional RLUSD tokens, as reported by the Ripple Stablecoin Tracker account on the X social media network.

RLUSD Reserve and Over-Collateralization

Currently, Ripple shows a reserve of approximately $83 million for more than $77.2 million issued in RLUSD. This indicates that RLUSD is over-collateralized by 7%.

Anticipation for the Upcoming Attestation Report

Ripple is expected to release an attestation report this month, revealing the composition of the backing assets. The company previously stated that the first report would be published no later than 30 days after the public launch of the stablecoin. RLUSD was launched last month after obtaining key approval from New York's regulator, with the product initially announced in April.

Ripple continues to expand its presence in the stablecoin market, preparing new attestation reports that will provide investors with greater transparency regarding RLUSD reserves.

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