Ripple Labs: RLUSD Testing Leads to Major Transfers

2 hours ago

Ripple Labs, a blockchain payments company, has intensified its on-chain activities, indicating notable progress in testing a new stable platform version.

Major RLUSD Transfer: What's Happening?

Ripple recently initiated a massive transfer of 3.5 million RLUSD from one address to another. This transfer took place on the Ethereum blockchain, sparking speculation about potentially accelerating the release of the stable RLUSD version. Official statements from Ripple are yet to come, but rumors suggest a release by the end of 2024.

Increasing Minting and Burning Activities

The rise in minting and burning activities of RLUSD suggests an acceleration of testing. Ripple has been minting and burning RLUSD to ensure platform reliability and security. The most significant minting - 10 million tokens - was recorded in October.

The dollar is a stable currency that offers trust and consistency.Brad Garlinghouse

Ripple's Legal Issues: What's the Challenge?

As the RLUSD release is awaited, legal challenges arise with Bitnomial's lawsuit against the SEC, accusing it of jurisdiction overreach, potentially complicating Ripple's plans.

Ripple continues to actively develop the platform, though legal disputes pose additional challenges to the upcoming RLUSD launch.

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