TL;DR
The XRP Ledger is undergoing code review to enable RLUSD and Automated Market Makers (AMM) integration, and further updates are pending. Ripple recently warned users to be wary of scams as the stablecoin is not yet available to the public.
Latest RLUSD developments
In April of this year, Ripple announced that it would introduce a stablecoin pegged 1:1 to the US dollar. This news caused great excitement throughout the XRP community, with many members wondering about the exact details and purpose of the product.
As of now, it is known that it will be called RLUSD and will be available on the XRP Ledger (XRPL) and Ethereum. Ripple CEO Brad Garlinghouse has previously claimed that Ripple could act as a bridge between the crypto industry and traditional finance.
Over the past few weeks, the team has minted and burned thousands of RLUSD tokens as part of a private beta testing phase.
Just recently, a popular community veteran said that a proposed fix to the XRP Ledger that would allow upcoming stablecoin-like (clawback) tokens to be used with AMMs (Automated Market Makers) has “passed code review.” said. The user claimed that the next step involves “adding some cosmetics and merging them into a new Ripple release for validators to vote on.”
This announcement sparked fresh speculation that RLUSD may already be operational. However, this product has not yet seen the light of day, as veterinarians explain:
“It’s coming to XRPL, but it’s up to Ripple when it actually comes because it’s their token. You can expect extensive public information about it once it actually launches.”
caveat
A while back, Ripple’s team issued an important scam alert to users, reminding them that RLUSD is still in the beta testing stage. He warned them to be especially careful if suspicious individuals make contrary claims.
PSA: Ripple USD (RLUSD) is still in private beta and may see on-chain activity, but is not yet available. Beware of those who claim to distribute #RLUSD.
Stay up to date with the latest updates and beware of scams. https://t.co/P1scOUchWz
— Ripple (@Ripple) September 30, 2024
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