Breaking News
Ripple USD Begins Testing on the XRP Ledger Mainnet
Ripple have announced they have begun beta testing Ripple USD (RLUSD) on the XRP Ledger (XRPL) and Ethereum mainnet. This is a significant milestone and a step closer to bringing more high-quality assets to the XRPL, driving new opportunities, liquidity, and institutional use cases for users, developers, and applications. The mainnet version of Ripple USD is also available on Ethereum, with plans to expand to additional blockchains and decentralized finance (DeFi) protocols over time.
Ripple USD is currently in its beta phase and is being rigorously tested by their enterprise partners. This phase is crucial for ensuring that the stablecoin meets the highest standards of security, efficiency, and reliability before it becomes widely available, and after receipt of regulatory approval. Consequently, Ripple USD is not available for purchase or trading at this time.
Until then, please be cautious of crypto scams which may exploit Ripple’s brand and purport to have early access to sell Ripple USD, which is not available at this time.
Contact addresses:
- XRPL Explorer
- ERC-20 Token Address: 0xCfd748B9De538c9f5b1805e8db9e1d4671f7F2ec
- ETH Token Proxy Address: 0x8292Bb45bf1Ee4d140127049757C2E0fF06317eD
There is a clear demand for stablecoins that deliver trust, stability, and utility. Once RLUSD is available, Ripple will use both RLUSD and XRP in its cross-border payments solution to serve its global customers and dramatically improve their experience. With over a decade of building enterprise financial solutions, Ripple is in an ideal position to launch a stablecoin that addresses a market projected to grow to over $2.8 trillion by 2028.
Ripple USD is valued 1:1 to the US dollar (USD) and 100% backed by US dollar deposits, short-term US government treasuries, and other cash equivalents. These reserve assets will be audited by a third-party accounting firm, and Ripple will publish monthly attestations.
Ripple is committed to transparency and will keep the community updated on the progress of Ripple USD. They appreciate your patience and enthusiasm as they work towards making RLUSD a robust and reliable stablecoin for everyone. Together, Ripple are shaping the future of digital finance.
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Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
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