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Gemini Burns $128 Million in RLUSD on XRP Ledger, Vet Says

According to the source, two RLUSD stablecoin transactions on XRP Ledger (XRPL, Ripple-linked blockchain) totaled $79 million and $49 million on March 31, while Ripple later minted 10 million RLUSD on Ethereum.

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Terms & Concepts
  • RLUSD: A Ripple-linked stablecoin designed to maintain a fixed value, typically by being pegged to a fiat currency.
  • XRP Ledger (XRPL): A blockchain network associated with Ripple that supports token transfers and other digital asset functions.
  • Token burn: The permanent removal of tokens from circulation, typically by sending them to an unusable blockchain address.