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Data shared by the Ripple Stablecoin Tracker account shows that blockchain giant Ripple has created another major part of its new product – Ripple USD stablecoin.
This continuation of the RLUSD minting spree has occurred ahead of the major development expected to occur later this month.
Meanwhile, the same data source discovered that nearly 7 million of these stablecoins were transferred in the past 24 hours.
Ripple has issued millions of RLUSD, of which 6.7 million have been transferred
The Ripple Stablecoin Tracker revealed that approximately 16 hours ago, the Ripple Treasury minted a large chunk of the stablecoin worth RLUSD 1,790,000.
This amount of RLUSD was created on the Ethereum chain. Previously, when the product was in private beta, Ripple announced that it intends to use two chains to launch the stablecoin – the XRP Ledger and the Ethereum chain. On January 3, as covered by U.Today, Ripple also minted a new batch of 600,000 RLUSD.
After the coin was minted, the aforementioned data source revealed that in the past 24 hours, approximately 6.7 million US Riyals were transferred in total. According to details provided by Etherscan, approximately 1.5 million were transferred by major cryptocurrency exchange Bitstamp.
A total of 500,000 RLUSD was transferred by Ripple. The remaining 6.7 million RLUSD mentioned above were transferred by anonymous whales to anonymous blockchain wallets.
Later this month, giant Ripple is set to do just that Issuing the certification reportwhich will unveil the composition of the supporting assets. To date, Ripple has issued just under $80 million in RLUSD, with approximately $83 million in reserve to back this stablecoin.
Ripple previously announced that its RLUSD coin would be audited by independent auditors and promised to release the first certification report within 30 days of the stablecoin's public launch.
Related to
Ripple owns $100 billion worth of XRP and will not go public
In a recent interview with Ripple's CEO Brad Garlinghouse revealed The amount of XRP tokens owned by Ripple currently exceeds the equivalent of $100 billion. He said it is important when talking about a company's valuation. The CEO believes it is much higher than the $11 billion figure reported by Reuters at the beginning of 2024.
Additionally, Garlinghouse refuted speculation that Ripple intends to conduct an IPO, adding that this was never a priority.
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