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Ripple Welcomes 1.7 Million Newly Minted RLUSD Ahead of Big Development
In a recent announcement, Ripple has revealed that it has welcomed an impressive 1.7 million newly minted RLUSD to its network, as the company prepares for a significant development.
The news comes as Brad Garlinghouse, CEO of Ripple, dismissed speculation that the company intends to conduct an IPO. Instead, he emphasized that Ripple’s primary focus lies in building and growing its ecosystem, specifically around its decentralized finance (DeFi) projects.
Ripple has been actively working on expanding its scope and increasing adoption within the DeFi sector, with a particular emphasis on cross-border transactions using the US dollar-pegged stablecoin RLUSD. The minting of 1.7 million new units is likely a strategic move in this direction, providing an increased volume for transactions to take place.
The development has sparked excitement among investors and enthusiasts alike, as it potentially signals significant advancements in Ripple’s plans to democratize access to financial services worldwide.
Source: u.today
