Payments infrastructure provider Ripple has released its largest token series during the beta testing of the Ripple USD (RLUSD) stablecoin.
Ripple RLUSD Testing
According to XRPScan data, Ripple has issued two significant RLUSD series, each sized at 485 RLUSD. Today's issuance represents the largest since the project's inception at the end of August. The strategic decision to increase the supply through these series aligns with ongoing efforts to test and scale RLUSD in various blockchain environments. The community following the developments of RLUSD has shown great interest in these series, viewing them as milestones on the roadmap toward a full-scale launch.
Strategic Testing Phase
In the last 24 hours, the stablecoin tracker reported that 100 RLUSD tokens were burned in two batches alongside the new issuance. This demonstrates a strategic approach to managing the circulating supply. The burning process involves permanently removing tokens from circulation, helping to control inflation and stabilize the token’s value against the US dollar. Currently, this is merely to check whether the functions are operating correctly. The dual strategy of minting and burning RLUSD is critical for testing economic mechanisms that support the stability in the market. This approach ensures that the stablecoin maintains its connection to the dollar while testing liquidity on the XRPL and Ethereum platforms.
Supported by Bitwise CIO
As Ripple prepares for RLUSD’s broader launch, significant financial figures have shared their perspectives on the potential market impact. Bitwise CIO Matt Hougan highlighted a promising outlook, especially with the anticipated conclusion of the SEC lawsuit. He stated:
The release of RLUSD by Ripple is seen as an important step in testing the integration between blockchain technologies and preparing for the stablecoin’s launch.
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