TL;DR
The XRP Ledger has undergone a code review to enable RLUSD integration with Automated Market Makers (AMMs), with further updates pending.Ripple recently warned users to be cautious of scams, as the stablecoin is not yet publicly launched.The Latest RLUSD Development
In April this year, Ripple disclosed it will introduce a stablecoin pegged 1:1 to the American dollar. The news sparked huge excitement across the XRP community, with many members wondering about the exact specifics and purposes 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’s CEO, Brad Garlinghouse, previously claimed it could serve as a bridge between the cryptocurrency industry and traditional finance.
Over the past several weeks, the team minted and burned thousands of RLUSD tokens as part of the private beta testing phase.
Most recently, the popular community figure Vet said the XRP Ledger amendment to allow (clawback) tokens like the upcoming stablecoin to be employed in the AMM (Automated market makers) “went through the code review.” The user maintained that the next step involves “some cosmetics and merge into a new rippled release for validators to vote on.”
The announcement triggered renewed speculations that RLUSD might be already live. The product, though, is yet to see the light of day with Vet explaining:
“It’s coming to the XRPL but when is really up to Ripple as it’s their token. When they do launch we can surely expect extensive public comms on it.”
The Warning
Not long ago, Ripple’s team issued an important scam alert to users, reminding that RLUSD is still undergoing its beta testing stage. It cautioned people to pay extra attention when dubious individuals claim the opposite.
PSA: Ripple USD (RLUSD) is still in private beta, and while you may see on-chain activity, it’s not available yet. Beware of anyone claiming to distribute #RLUSD.
Keep an eye out for the latest updates, and stay vigilant against scams! https://t.co/P1scOUchWz
— Ripple (@Ripple) September 30, 2024