Ripple’s RLUSD Contingent Is Moved from Ethereum to the XRP Ledger
Main Idea
Ripple has strategically moved 20,000,000 RLUSD from Ethereum to the XRP Ledger (XRPL), burning the tokens on Ethereum and minting an equivalent amount on XRPL, to optimize liquidity for XRPL-based applications.
Key Points
1. 20,000,000 RLUSD were burned on Ethereum and an identical amount was minted on the XRP Ledger, as confirmed by on-chain data from Etherscan and XRPSCAN.
2. This redistribution signals Ripple's intent to shift stablecoin liquidity from Ethereum's ERC-20 format to XRPL's native token infrastructure.
3. RLUSD, Ripple's USD-backed stablecoin, was launched in December 2024 and is designed to leverage XRPL's settlement capabilities while remaining compatible with Ethereum's DeFi ecosystem.
4. Ripple retains full control over minting and burning RLUSD on XRPL, allowing for centralized liquidity management.
5. The move is one of the largest single supply adjustments since RLUSD's launch and may indicate future shifts to reinforce XRPL as the primary venue for RLUSD liquidity.
Description
A notable shift in Ripple’s stablecoin operations has been observed on-chain, with 20,000,000 RLUSD burned on Ethereum and an identical amount minted on the XRP Ledger (XRPL). The development, highlighted by blockchain analyst Vet via the Ripple Stablecoin Tracker on X, signals a strategic redistribution of RLUSD supply between the two supported networks. On-Chain Activity Confirms the Movement According to the Ripple Stablecoin Tracker feed, the RLUSD Treasury executed two significant transacti...
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