RLUSD Backed and Fully Secured – A Revamped Stablecoin Market

Ripple’s RLUSD is currently showing $83.2M in reserves for $77.2M issued, meaning it’s backed by more than 100%.

Unlike the lack of regulatory framework surrounding USDT (e.g. recent ban in EU) and audits of Tether's assets, Ripple plans to provide monthly reports with proof of reserves and what they're comprised of. Within the next 2 weeks, we should get the first RLUSD reserve attestation, showing the backing of assets and cash behind RLUSD.

If executed well, this could set a new standard for stablecoin backing and accountability. Does this signal the next evolution in trust for digital assets or is there still more to prove?

Only one way to find out.

EDIT 1/15/25: Asked ChatGPT and it said that stablecoin attestations usually take 30-60 days, so this report may come as late as mid-February. Stay tuned.