Ripple Kicks Off ‘Uptober’ with New RLUSD Mint

Enterprise blockchain firm Ripple has minted an additional 1.8 million RLUSD tokens on the XRP Ledger.

The company’s previous minting event took place on Sept. 27 on the Ethereum network, resulting in the creation of 8 million tokens.

This is the first RLUSD mint that takes place on the XRP Ledger since Sept. 24.

Meanwhile, the market cap of RLUSD is now steadily approaching the $800 million mark, currently sitting at roughly $798 million.

Expanding into Africa

In the meantime, Ripple recently made an announcement about its stablecoin expanding into Africa. The product will be embedded into existing financial rails with the help of such partners as Chipper Cash and Yellow Card.

The collaboration is meant to solve such issues as expensive remittances, high inflation experienced by local fiat currencies, limited banking access, and low efficiency of traditional financial channels.

The RLUSD stablecoin will help to ensure affordability and higher speed.

First Deloitte-backed attention report

In other news, as reported by U.Today, Ripple recently published the first attestation report for the RLUSD stablecoin backed by “Big Four” accounting giant Deloitte.

Jack McDonald, Ripple’s stablecoin head, recently took to stress that Ripple is committed to holding the stablecoin to “the highest” regulatory standards.

New exchange listings

As reported by U.Today, the RLUSD token recently got listed on the Bybit exchange, which gives the token significant global exposure.

Meanwhile, Budget, another global exchange that is popular with XRP traders, recently added some new RLUSD pairs.

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