CandleFocus Ripple Moves Another 4M RLUSD, What's Happening?
2024-10-17
Author: Content Editor
Ripple has executed another set of significant RLUSD transactions, moving $6 million worth of RLUSD tokens ahead of the stablecoin's launch later this year. The company minted 4 million RLUSD tokens on the Ethereum network and transferred them to an unidentified wallet, before moving an additional 2 million RLUSD tokens later that day. These transactions follow a large transfer of 28 million RLUSD tokens the day before. Ripple's actions have sparked speculation about the stablecoin's release and the company's push to advance its position in the stablecoin sector. Ripple is seeking regulatory approval from the New York Department of Financial Services (NYDFS), and the company's leadership is confident in its ability to meet regulatory requirements. The focus on regulatory compliance sets RLUSD apart from competitors, positioning it to capture a significant portion of the stablecoin market. The exact launch date for RLUSD remains unconfirmed.
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