Ripple recently minted 1,050,000 RLUSD tokens at the RLUSD Treasury, as reported by Ripple Stablecoin Tracker on the X Community platform. This development highlights Ripple’s continued expansion in the stablecoin market, reinforcing its growing presence.
RLUSD, an enterprise-grade, USD-denominated stablecoin, launched globally on December 17, 2024, with the aim of accelerating stablecoin-based payment adoption. Designed to maintain a 1:1 value with the U.S. dollar, RLUSD ensures stability and reliability. The stablecoin operates on both the XRP Ledger (XRPL) and Ethereum blockchains, making it compatible with smart contract applications.
💵💵💵💵💵💵 1,050,000 #RLUSD minted at RLUSD Treasury.https://t.co/IRlDptLTeP
— Ripple Stablecoin Tracker (@RL_Tracker) January 29, 2025
December Reserve Report Highlights Transparency
Ripple released the first RLUSD Reserve Report for December 2024, marking a significant milestone in transparency. The report reveals the assets backing the stablecoin, which include U.S. Treasury Bills, government money market funds, and cash deposits. This detailed disclosure aims to enhance trust and confidence among users and investors.
Related article: Ripple Unveils RLUSD Stablecoin with Whitepaper Access
Ripple has partnered with Ondo Finance to integrate OUSG, tokenized U.S. Treasuries, into the XRP Ledger. This collaboration allows institutional investors to access Ondo Short-Term U.S. Government Treasuries (OUSG), backed by BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL). Investors can instantly issue and redeem OUSG 24/7 using RLUSD. This move broadens its utility and positions Ripple as a leader in tokenized asset management.
Growing Demand for Stablecoin-Based Payments
The adoption of stablecoins like RLUSD for payments has surged, driven by the demand for digital asset capabilities. Ripple plans to integrate it into its Ripple Payments platform later this year, enhancing payment options.
Related article: Ripple Intensifies RLUSD Testing: What’s Behind the 2.45 Million Token Mint?
Ripple’s Senior Vice President of Stablecoins, Jack McDonald, predicts a pivotal shift in the stablecoin market in 2025. While stablecoin adoption grew in 2024, he expects consolidation favoring high-quality, regulated issuers with strong institutional backing and compliance frameworks. Ripple anticipates this trend will coincide with the emergence of new asset classes and progressive regulations.
This milestone underscores Ripple’s commitment to innovation and transparency as it navigates the evolving digital payment landscape.