Ripple Starts Printing RLUSD On XRP Ledger And Ethereum Networks

JAKARTA - After successfully obtaining approval from New York Financial Services (NYFDS), cross-border payment company and XRP manager Ripple Labs began printing RLUSD stablecoins.

Ripple reportedly printed more than 13 million RLUSD tokens on two main networks, namely XRP Ledger and Ethereum. This printing is part of an important trial ahead of its official launch.

According to data from the Ripple Stablecoin Tracker, 2.6 million RLUSD were printed on the Ledger XRP, with an additional batch of 100,000, 160,000, and 640,000 RLUSD, respectively. This process shows the efficiency of the cost of the Ledger XRP network, with a total printing cost of only 0.00048 XRP.

Meanwhile, on the Ethereum network, Ripple scored 10.4 million RLUSD and an additional batch of 640,000 RLUSD. The largest printing cost on Ethereum is 0.00161 ETH or about $6.31. Coinpedia reports that this shows the scalability and effectiveness of the network's costs.

RLUSD is prepared to compete in the stablecoin market which has been dominated by Circle's USDT and USDC. Ripple puts forward an advantage in terms of regulatory compliance.

This is expected to attract financial institutions to adopt it. When RLUSD officially launches, Ripple will be the first to announce it, said Ripple CEO Brad Garlinghouse via uploading his X account on December 11 yesterday.