Ripple Prepares for RLUSD Launch with Major XRP Ledger Upgrades
- The XRP Ledger has approved two key amendments, fixEmptyDID and fixPreviousTxnID, with support from 31 validators.
- Ripples RLUSD Treasury minted 300,000 RLUSD on September 28th, along with previous mints of 50,000 and 5,515 RLUSD.
The XRP Ledger (XRPL) is making significant strides with its latest updates, sparking enthusiasm within the crypto community. Recently, the protocol introduced two major amendments named fixEmptyDID and fixPreviousTxnID. These updates were successfully approved by 31 validators, surpassing the required threshold for implementation.
Ripple has also been actively working on its new stablecoin, Ripple USD (RLUSD). Announced in early September, RLUSD plans to complement the existing XRP tokens and will be available on two blockchain networks, providing an alternative in a market currently led by stablecoins like USDT and USDC.
Ripples RLUSD: Ongoing Testing and Recent Minting Activities
Ripple has been testing this stablecoin on both the XRP Ledger and Ethereum network since the private beta launch on August 9th.
Following that, Ripples RLUSD Treasury has recently minted 300,000 RLUSD, a development revealed by Ethereum blockchain explorer Etherscan on September 28th at 03:13:47 AM UTC.
The Ripple Stablecoin Tracker on X (formerly Twitter) also noted another mint of 50,000 RLUSD on September 27th, as well as a smaller mint of 5,515 RLUSD on September 25th.
Its important to note that RLUSD has not yet been granted regulatory approval, meaning it cannot be bought or traded. However, preparations for the stablecoins launch continue, with the RLUSD logo recently updated on Ledger Live and XRP set to automatically bridge every RLUSD transaction.
The timeline for the official release of RLUSD is still uncertain. But with continuous testing and development on both networks, Ripple appears to be gearing up for a successful launch.
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Read more: https://thenewscrypto.com/ripple-prepares-for-rlusd-launch-with-major-xrp-ledger-upgrades/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
