Ripple Mints 600,000 RLUSD Tokens Ahead of Attestation Report

Enterprise blockchain company Ripple has minted an additional 600,000 RLUSD tokens, according to the most recent update provided by the Ripple Stablecoin Tracker account on the X social media network.

As of now, Ripple is showing a reserve of roughly $83 million for more than $77.2 million issued in RLUSD.

This essentially means that RLUSD backing is 7% over-collateralized.

During this month, Ripple is expected to release an attestation report, which will reveal the composition of the backing assets.

The company previously stated that the first report would be released not more than 30 days after the public launch of the stablecoin.

As reported by U.Today, RLUSD was lunched to much fanfare last month after obtaning key approval from New York’s regulator.

The stablecoin product was initially announced back in April.

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