The post Ripple Stablecoin RLUSD Beta Testing Goes Live on XRPL and Ethereum appeared on BitcoinEthereumNews.com.

Ripple has officially started the private beta testing of its proprietary USD stablecoin project Ripple USD (RLUSD) on the Ethereum mainnet and the XRP Ledger (XRPL). The firm disclosed this in a recent post on X, sharing a link to an official press release. Interestingly, the disclosure comes two days after Judge Analisa Torres made the final decision on the Ripple v. SEC lawsuit, effectively bringing the legal battle to an end in the absence of any appeals. Ripple USD Now in Private Beta Testing According to Ripple, the private beta testing of RLUSD on the XRPL takes them one step closer to enhancing the network with additional digital assets of high value, more institutional use cases, greater liquidity and the prospect of fresh opportunities. The firm confirmed that its enterprise partners are currently responsible for carrying out the private beta testing. Notably, the tests are part of efforts to ensure that the Ripple USD project is sufficiently reliable and secure.  This is an essential stage of the development phase, as these tests fish out flaws that require correcting. Ripple stressed that the stablecoin has not been released to the public for trading or purchase at press time. They warned of malicious actors that might claim to have the mandate to sell or distribute RLUSD tokens. Testing, testing…RLUSD! We’re excited to share that Ripple USD (RLUSD) is now in private beta on XRP Ledger and Ethereum mainnet. RLUSD has not yet received regulatory approval and therefore is not available for purchase or trading – please be cautious of scammers who claim they… — Ripple (@Ripple) August 9, 2024 Also, Ripple revealed that RLUSD has not received regulatory clearance yet. Recall that the U.S. SEC previously called the token an “unregistered asset.” Amid the ongoing private beta testing phase, the payments…

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Filed under: News - @ August 10, 2024 9:16 am