Ripple Mints 600,000 RLUSD Tokens Ahead of Attestation Report
01/04/2025 03:45
Ripple continues its RLUSD minting spree
Ripple continues its RLUSD minting spree
Enterprise blockchain company Ripple has minted an additional 600,000 RLUSD tokens, according to the most recent update provided by the Ripple Stablecoin Tracker account on the X social media network.
As of now, Ripple is showing a reserve of roughly $83 million for more than $77.2 million issued in RLUSD.
This essentially means that RLUSD backing is 7% over-collateralized.
During this month, Ripple is expected to release an attestation report, which will reveal the composition of the backing assets.
The company previously stated that the first report would be released not more than 30 days after the public launch of the stablecoin.
As reported by U.Today, RLUSD was lunched to much fanfare last month after obtaning key approval from New York's regulator.
The stablecoin product was initially announced back in April.
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About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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