Recent blockchain data from Ripple’s Stablecoin Tracker shows a detailed breakdown of the minting activity. On the XRP Ledger, the company minted an initial batch of 2.6 million RLUSD, followed by three smaller mints of 100,000, 160,000, and 640,000 RLUSD tokens. The Ethereum Network saw larger mints, with 10.4 million and 640,000 RLUSD tokens being created.
The testing phase comes after Ripple secured approval from the New York Department of Financial Services (NYDFS), establishing RLUSD as one of the few stablecoins with full regulatory compliance in the United States. This approval sets RLUSD apart from other major stablecoins in the market.
Brad Garlinghouse, Ripple’s CEO, addressed the community through X (formerly Twitter), stating that official announcements about RLUSD’s launch would come directly from the company. This communication aims to prevent confusion and maintain transparency throughout the launch process.
The stablecoin’s backing structure relies entirely on onshore U.S. assets, specifically U.S. Treasuries held in regulated custody. This arrangement ensures compliance with key financial regulations, including the Dodd-Frank Act and Basel III standards.
Market observers note that this approach differs from other leading stablecoins. While USDT has faced questions about its audit practices and USDC operates partially offshore, RLUSD’s structure provides clear regulatory alignment with U.S. financial standards.
The testing period has coincided with positive price movement for XRP, Ripple’s native cryptocurrency. The token’s value rose from $1.90 to $2.35 during this development phase, though some market analysts characterize this increase as speculative in nature.
Technical analysis from software engineer Vincent Van Code suggests that RLUSD’s potential integration with decentralized finance (DeFi) ecosystems could create new opportunities for XRP price growth. The implementation of liquidity pools and automated market maker features on the XRP Ledger could generate additional demand for both tokens.
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These DeFi capabilities would allow users to earn returns through liquidity provision and participate in on-chain staking activities. The ability to swap RLUSD with other stablecoins adds another layer of utility to the ecosystem.
During this testing period, large XRP transactions have caught the attention of market watchers. A transfer of 39.43 million XRP, valued at approximately $95.5 million, moved from an unidentified wallet to Coinbase. Another notable transaction involved 99.99 million XRP, worth $234.4 million, between unknown wallets.
Ripple’s approach to real-time audits and transparent operations aims to build trust within the financial industry. The company’s focus on regulatory compliance positions RLUSD as a potential tool for traditional financial institutions looking to integrate blockchain technology.
The minting activity across multiple networks demonstrates Ripple’s commitment to interoperability. By deploying RLUSD on both the XRP Ledger and Ethereum Network, the company creates opportunities for broader adoption and use cases.
The testing phase includes various transaction types to ensure the stablecoin functions properly across different scenarios. These tests evaluate minting, burning, transfers, and integration with existing blockchain infrastructure.
RLUSD’s development aligns with growing demand for regulated blockchain-based financial tools. The stablecoin’s structure provides a bridge between traditional finance and digital asset markets.
Recent blockchain data confirms ongoing testing activities, with multiple mint transactions occurring across both networks. These tests verify the technical infrastructure supporting RLUSD’s upcoming launch.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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By Nermeen Nabil Khear