1,050,000 RLUSD Minted as Ripple Stablecoin Marks New Milestone
2025-01-29
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In a significant development, Ripple has minted 1,050,000 RLUSD tokens at the RLUSD Treasury, according to the X Community account Ripple Stablecoin Tracker. The minting of 1,050,000 RLUSD tokens remains significant as the Ripple stablecoin continues to expand its presence in the stablecoin market.
💵💵💵💵💵💵 1,050,000 #RLUSD minted at RLUSD Treasury.https://t.co/IRlDptLTeP
RLUSD, an enterprise-grade, USD-denominated stablecoin, launched globally on Dec. 17 to accelerate the adoption of stablecoin-based payment. It is designed to maintain a value of 1:1 to the U.S. dollar (USD).
RLUSD, issued on both the XRP Ledger (XRPL) and Ethereum blockchains, is natively compatible with smart contract applications.
In a recent milestone, the latest RLUSD Reserve Report for December 2024 has been released, marking the first such report to provide transparency regarding the assets backing the stablecoin. The reserve composition includes U.S. Treasury Bills (+ Government Money Market Fund) and cash deposits.
RLUSD utility expands
In a recent move that would expand the utility of the RLUSD, Ripple and Ondo Finance are collaborating to bring OUSG, tokenized U.S. Treasury, to XRP Ledger. This partnership will provide institutional investors with access to Ondo Short-Term U.S. Government Treasuries (OUSG), which are backed by the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and may be instantly issued and redeemed 24/7 using Ripple USD (RLUSD).
Demand for digital asset capabilities has increased in tandem with the widespread adoption of stablecoins for payments, such as Ripple USD (RLUSD), which will be integrated into Ripple Payments later this year.
With the crypto industry and progressive regulation evolving in parallel, the Ripple team predicts that stablecoins will play an increasingly important role in 2025, along with the introduction of totally new asset classes.
Ripple's Senior Vice President of Stablecoins, Jack McDonald, predicts that while stablecoins proliferated in 2024, 2025 will see a shift toward consolidation in favor of high-quality, regulated stablecoin issuers; only those with institutional backing and robust compliance frameworks will be able to withstand a "war of attrition."