Ripple Labs has officially announced the creation of an additional 90 RLUSD stablecoins, aligning with its strategy to broaden its digital assets. The Ripple Stablecoin Tracker data confirms these new tokens as a notable progression for the company, not involving any burns as compared to past practices of adjusting supply. This move exemplifies Ripple’s ongoing commitment to enhancing its stablecoin ecosystem.
These newly minted RLUSD tokens were added to the Ethereum blockchain to uphold market liquidity and stability, following a recent pause in issuance before the latest batch. Moreover, alongside this specific minting event, the Treasury conducted multiple emissions totaling 402 RLUSD stablecoins on the same day.
Ripple’s meticulous approach to introducing RLUSD incorporates testing phases and adherence to regulations to maintain market stability. The decision to abstain from burns in this phase aims to analyze the market’s response to a steady supply increase. An impending third-party audit is scheduled to evaluate the reserves supporting RLUSD, emphasizing transparency in providing a reliable digital asset pegged to the U.S. dollar.
Looking ahead, there are plans to expand the utilization and integration of RLUSD across various financial platforms, with each minting session moving closer to making RLUSD a staple in everyday financial transactions. Expert discussions highlight the potential benefits for XRP post the launch and adoption of RLUSD, underscoring its relationship with Ethereum and the essential role of XRP in facilitating transactions on the XRP Ledger.
Although Ripple has faced accusations of centralization branding it as a ‘scam,’ affecting XRP’s price, there have been recent minor recoveries amid concerns. The current XRP price stands at $0.5612, showing a 6.15% increase in the last 24 hours, with a substantial surge in trading volume indicating heightened market involvement.