- Ripple Ramps up its Efforts in Minting RLUSD
- Ripple Intensifies RLUSD Testing After SEC Victory
- Stablecoins Adoption Gains Tractions in the Crypto Space
Ripple Labs is stepping up its game with the RLUSD stablecoin, a collateral digital asset pegged at a 1:1 ratio to US Dollars. The technology firm is focusing on its development across the Ethereum and XRP networks.
Ripple Ramps up its Efforts in Minting RLUSD
Recent data from Etherscan, an Ethereum blockchain tracker, indicates that Ripple has minted an additional 300,000 RLUSD. This latest minting is part of Ripple Labs’ broader strategy to bolster its presence in the stablecoin arena. This news, revealed by Etherscan, has created lots of buzz within the crypto community.
Ripple Intensifies RLUSD Testing After SEC Victory
These transactions underscore the ongoing testing phase for RLUSD, which began following Ripple’s announcement of private beta testing on August 9th. Ripple CEO Brad Garlinghouse clarified that RLUSD has not yet received regulatory approval. This means the token is not yet available for purchase or trading. Nevertheless, the varying volumes and frequency of mints suggest that Ripple is intensifying its testing efforts.
Stablecoins Adoption Gains Tractions in the Crypto Space
As Ripple’s RLUSD prepares to compete with established stablecoins like Tether’s USDT, other companies are also joining the race. For instance, Ethena Labs recently launched the stablecoin UStb. In August, the stablecoin market capitalization hit a record $168 billion, indicating a significant increase in the adoption of these assets within the crypto market.
Ripple Labs continues to solidify its position in the stablecoin sector by actively developing and testing RLUSD. Recent transactions and minting volumes indicate the company's serious intentions to strengthen its standing in the stable digital asset market.
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