- Ripple is gearing up for a crucial period of regulatory reviews and market integration.
- To maintain parity, Ripple has been simultaneously minting RLUSD on the Ethereum network.
In an effort to make sure the stablecoin works well when it launches, Ripple has minted an additional 1.35 million RLUSD to the XRP Ledger. Ripple is gearing up for a crucial period of regulatory reviews and market integration, which is when this development occurs.
With 2.45 million RLUSD created in October alone, Ripple Labs has been ramping up the minting of its RLUSD stablecoin. The most recent minting, which took place on the XRP Ledger, included the minting of 1.35 million RLUSD and was one of four separate batches. Up until this point, this massive tranche has been the most noteworthy issuance. It also shows that the Ripple team is trying to increase liquidity and put RLUSD through its paces in different environments.
Getting Ready Ahead of Regulatory Clearance
Previous mints by the firm included smaller batches, such as the 80,000 RLUSD stablecoin that was recently minted, in addition to the 1.35 million tokens. All of these moves point to the corporation being ready to launch RLUSD, pending clearance from regulators.
To maintain parity, Ripple has been simultaneously minting RLUSD on the Ethereum network and the XRP Ledger (XRPL) network. One way to improve scalability is to split token distribution across these two blockchains. It also guarantees that the stablecoin will work well in a scenario where many chains are active.
A lesser number of tokens, including a 500,000 RLUSD tranche, were created on Ethereum, however the XRPL has issued the vast bulk of tokens.
The complete launch of RLUSD is still contingent upon regulatory clearance, even though minting has advanced. In light of the recent legal challenges encountered by other stablecoin issuers, such as Paxos and TrueUSD, the firm is eager to guarantee that the stablecoin adheres to U.S. legislation.
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