{"id":172102,"date":"2024-09-24T14:21:43","date_gmt":"2024-09-24T14:21:43","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172102"},"modified":"2024-09-24T14:21:49","modified_gmt":"2024-09-24T14:21:49","slug":"ripple-issues-biggest-rlusd-stashes-to-date-stablecoin-launch-nears","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/ripple-issues-biggest-rlusd-stashes-to-date-stablecoin-launch-nears\/","title":{"rendered":"Ripple Issues Biggest RLUSD Stashes to Date\u2014Stablecoin Launch Nears"},"content":{"rendered":"<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">TL;DR<\/span><\/span><\/strong><\/p>\n<ul style=\"text-align: justify\">\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple has issued two batches of its RLUSD stablecoin as part of its pre-launch testing.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In total, 970 RLUSD were issued and 100 tokens were burned.<\/span><\/span><\/li>\n<li><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple aims to position itself in the stablecoin market, which could reach $2.8 trillion by 2028.<\/span><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">San Francisco-based blockchain company<\/span><a href=\"https:\/\/crypto-economy.com\/ripple\/\"><strong><span style=\"vertical-align: inherit\"> Ripple<\/span><\/strong><\/a><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to advance the development of its stablecoin RLUSD<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, with a view to competing in the<\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> growing stablecoin market<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Since <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">August,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> the company has been testing this <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">new stablecoin,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> which will be pegged to the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">US dollar at a 1:1 ratio<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In the past 24 hours, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> has <\/span><\/span><strong><a href=\"https:\/\/xrpscan.com\/tx\/B126293FFD06199E80088681C4D9674D45F80B649F390F0D2B372A72B5393E4E\" target=\"_blank\" rel=\"noopener\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">issued<\/span><\/span><\/a><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> two significant batches of 485 RLUSD<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> each, totaling <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">970 tokens.<\/span><\/span><\/strong><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udcb5\ud83d\udcb5\ud83d\udcb5 485 <a href=\"https:\/\/twitter.com\/hashtag\/RLUSD?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#RLUSD<\/a> minted at RLUSD Treasury.<a href=\"https:\/\/t.co\/865wLnhyJt\" target=\"_blank\">https:\/\/t.co\/865wLnhyJt<\/a><\/p>\n<p>&mdash; Ripple Stablecoin Tracker (@RL_Tracker) <a href=\"https:\/\/twitter.com\/RL_Tracker\/status\/1838373880668266562?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 24, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">At the same time, <\/span><strong><span style=\"vertical-align: inherit\">100 RLUSD <\/span><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">were also burned<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, a process that blocks these tokens permanently, preventing their future circulation.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This process of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">issuing and burning tokens<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is common in the cryptocurrency industry to maintain the stability of a currency or make adjustments to its supply.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">By doing this, the company<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to fine-tune the details of its <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">stablecoin before the official launch<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"><strong>RLUSD<\/strong> <\/span><span style=\"vertical-align: inherit\">will be available on both the <\/span><strong><span style=\"vertical-align: inherit\">XRP Ledger<\/span><\/strong><span style=\"vertical-align: inherit\"> and the <\/span><strong><span style=\"vertical-align: inherit\">Ethereum blockchain<\/span><\/strong><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">,<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> which could give it a competitive advantage by allowing greater <\/span><strong><span style=\"vertical-align: inherit\">interoperability with other platforms<\/span><\/strong><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">stablecoin market<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is one of the fastest growing areas in the crypto ecosystem, with a current estimated value of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$2 trillion<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">This market is projected to reach <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">$2.8 trillion by 2028<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> is clearly aiming to capture a <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">significant portion of this segment<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The issuance of <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RLUSD is part of its strategy<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to take advantage of this opportunity and offer an alternative backed by its solid infrastructure.<\/span><\/span><\/p>\n<h2><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter size-full wp-image-90956\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/09\/ripple-1.jpg\" alt=\"Ripple issues largest batches of RLUSD to date\u2014stablecoin launch is approaching\" width=\"825\" height=\"300\" \/><\/h2>\n<h2><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Chris Larsen&#8217;s recent moves at Ripple<\/span><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">In parallel, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Chris Larsen<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> , one of the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">founders of Ripple<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and currently its executive president, has made <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">financial moves<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> that have sparked the interest of the <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">XRP community<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Recently, Larsen transferred <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">200 million XRP<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> to a <strong>Ripple-associated wallet<\/strong><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Such moves are common when a company plans to make <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">external payments or sell tokens<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> on <strong><a href=\"https:\/\/crypto-economy.com\/cryptocurrencies-from-a-to-d\/\">cryptocurrency<\/a> exchanges<\/strong><\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/strong><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">The market reacted with anticipation to these transfers, with some speculating that it could be a deal or a strategy to increase <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple&#8217;s liquidity<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Previously, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Larsen<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> also transferred <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">3 million XRP to Binance<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">15 million to Bittrex<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, two major cryptocurrency exchanges, suggesting that <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to take strategic steps to <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">consolidate its position in the market<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">As <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> continues to fine-tune the details of its <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">stablecoin<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and makes <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">significant moves with XRP<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">, the company appears to be laying the groundwork for further adoption of its <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">products and services in the global financial ecosystem<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">With <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">RLUSD in the testing phase<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> and its recent transfers, <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">Ripple<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\"> shows its determination to expand its <\/span><\/span><strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">presence in the dynamic and competitive world of cryptocurrencies<\/span><\/span><\/strong><span style=\"vertical-align: inherit\"><span style=\"vertical-align: inherit\">.<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Ripple has issued two batches of its RLUSD stablecoin as part of its pre-launch testing. In total, 970 RLUSD were issued and 100 tokens were burned. Ripple aims to position itself in the stablecoin market, which could reach $2.8 trillion by 2028. San Francisco-based blockchain company Ripple continues to advance the development of its &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Ripple Issues Biggest RLUSD Stashes to Date\u2014Stablecoin Launch Nears\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/ripple-issues-biggest-rlusd-stashes-to-date-stablecoin-launch-nears\/#more-172102\" aria-label=\"More on Ripple Issues Biggest RLUSD Stashes to Date\u2014Stablecoin Launch Nears\">Read more<\/a><\/p>\n","protected":false},"author":33,"featured_media":172104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90,70,74],"tags":[4620,4656,5001,4805],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172102"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172102"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172102\/revisions"}],"predecessor-version":[{"id":172105,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172102\/revisions\/172105"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172104"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}