Ripple’s much-anticipated RLUSD stablecoin is nearing launch after significant minting activities and testing on both the XRP Ledger and Ethereum blockchain. As of early October 2024, Ripple minted a staggering 29.7 million RLUSD tokens, signaling the project’s final testing phase before its planned Q4 2024 release. RLUSD will serve as a U.S. dollar-pegged stablecoin, fully backed by cash reserves, and is set to provide deep liquidity and instant settlement solutions.
What makes RLUSD particularly notable is Ripple’s strategy to use XRP as an auto-bridge asset, enhancing cross-border payments by facilitating fast and cost-effective transactions. This integration is expected to position Ripple’s stablecoin as a key player in decentralized finance (DeFi) and settlement solutions(Cryptopolitan)(DailyCoin).
The stablecoin is still in private beta, with Ripple carefully monitoring regulatory approvals before making it available for trading(Ripple). Ripple’s leadership, including CEO Brad Garlinghouse, emphasizes that RLUSD will complement XRP rather than replace it, strengthening the ecosystem across decentralized exchanges and beyond(markets.businessinsider.com).