Ripple has burned approximately 53 million RLUSD, its stablecoin, in a series of transactions on the XRP Ledger and Ethereum blockchains. The burning was done in batches, with 40.17 million burned on XRPL and 14 million burned on Ethereum. The launch of RLUSD is expected before the end of the year. The stablecoin is backed by short-term U.S. Treasury bills, dollar deposits, and cash equivalents. Ripple has emphasized transparency and will conduct monthly certifications of its reserves. The company is awaiting approval from the New York Department of Financial Services. This news has sparked discussions about Ripple's supply management and increased confidence in its ecosystem.



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