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Ripple Labs Intensifies Testing Of RLUSD Stablecoin On XRP Ledger

03/12/2024 15:33

According to Odaily, Ripple Labs, a prominent blockchain payment company in the United States, has ramped up its testing of the RLUSD stablecoin. Data from the Ripple Stablecoin Tracker indicates that the company is conducting two simultaneous tests involving the minting and transferring of RLUSD on the XRP Ledger protocol. This marks the first disclosure of RLUSD testing for the current month. Over recent months, Ripple Labs has been actively testing RLUSD as part of its efforts to integrate into the rapidly evolving stablecoin ecosystem. The latest minting activity on the XRP Ledger is recorded at Index 146, involving a total of 9,999,700 RLUSD tokens. This development follows reports from FOX Business that the New York Department of Financial Services (NYDFS) is on the verge of approving a new stablecoin issued by Ripple for cross-border payments. Sources familiar with the matter have indicated that the NYDFS has communicated its intention to approve the product, with Ripple planning to launch it on December 4.

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