Ripple Nears Launch of RLUSD Stablecoin After Massive Token Minting

Ripple has recently minted nearly all of its RLUSD tokens, producing around 99% of them on Sunday across Ethereum and the XRP ledger.

The total supply has now reached approximately 800,000 RLUSD tokens, prompting speculation that Ripple’s long-anticipated stablecoin project may be on the verge of launching.

Ripple’s minting activity is part of the product’s testing phase, with 800,000 RLUSD tokens generated across both networks in just one day. Vet.XO, co-founder of XRP Cafe, confirmed the figures in a recent post on X, stating that the majority of RLUSD tokens were minted within a short timeframe. On September 27, Ripple also created 50,000 RLUSD tokens, adding to smaller mints from the previous days.

These varying minting amounts suggest Ripple may be stress testing the network ahead of a wider release. The crypto community is now speculating that the stablecoin could launch soon. Ripple first announced the development of RLUSD in April, touting it as a tool for instant cross-border payments with a focus on regulatory compliance. The project entered its testing phase four months later.

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Ripple officially introduced RLUSD in a private beta on August 9, 2024, across the XRP Ledger and Ethereum, advising users to be cautious of potential scammers during this period.

Kosta Gushterov