The Latest RLUSD Development
- Barbara StreisandOriginal
- 2024-10-10 09:14:16851browse
In April this year, Ripple disclosed it will introduce a stablecoin pegged 1:1 to the American dollar. The news sparked huge excitement across the XRP
Breaking: XRP Ledger Amendment for RLUSD Token (Stablecoin) Usage in AMM Underway
In April, Ripple announced plans to launch a stablecoin pegged to the US dollar, generating anticipation within the XRP community. The stablecoin, named RLUSD, will be available on both the XRP Ledger (XRPL) and Ethereum.
According to Ripple CEO Brad Garlinghouse, the stablecoin is designed to bridge the gap between the cryptocurrency industry and traditional finance.
Over the past few weeks, the Ripple team has been conducting private beta tests, minting and burning thousands of RLUSD tokens.
In a recent development, prominent community figure Vet reported that the XRPL amendment to allow (clawback) tokens, such as the upcoming stablecoin, for use in the AMM (Automated market makers) has "went through the code review."
"Next step is some cosmetics and merge into a new rippled release for validators to vote on," the user added.
The announcement has sparked speculation that RLUSD may be going live imminently. However, Vet clarified that the stablecoin's launch is still pending.
"It's coming to the XRPL but when is really up to Ripple as it's their token. (When they do launch we can surely expect extensive public comms on it.)"
Scam Alert: RLUSD Not Yet Available for Distribution
Meanwhile, the Ripple team has issued a scam alert, reminding users that RLUSD is still in the beta testing phase and not available for distribution.
PSA: Ripple USD (RLUSD) is still in private beta, and while you may see on-chain activity, it’s not available yet. Beware of anyone claiming to distribute #RLUSD.
Keep an eye out for the latest updates, and stay vigilant against scams! https://t.co/P1scOUchWz
— Ripple (@Ripple) September 30, 2024
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