Token

Momentum

<p>According to <a href="https://en.coin-turk.com/ripples-legal-battle-sparks-hopes-for-xrps-price-surge/" rel="noopener noreferrer nofollow">Ripple</a>’s stablecoin tracking data, RLUSD experienced $55.9 million worth of token burns over the past seven days, while just $8.8 million was issued during the same period. Although there was more activity in the first days of June, both issuance and burning rates slowed dramatically as the month progressed.</p>
<h2 id="momentum-at-the-start-of-june-fades">Momentum at the start of June fades</h2>
<p>On the very first day of June, RLUSD saw $127.4 million minted alongside $12 million in token burns. However, in the days following this surge, burn volumes began to consistently surpass new issuances. Over the latest week, the number of RLUSD tokens removed from circulation has outpaced the total newly minted supply.</p>
<p>When compared to May, June reflects a much calmer trend for RLUSD. Despite this slowdown in on-chain activity, several important announcements surrounding the stablecoin have emerged this month. This indicates that while transactional activity has waned, steps to expand RLUSD’s technical and institutional reach continue to unfold.</p>
<h2 id="wormhole-integration-unlocks-cross-chain-access">Wormhole integration unlocks cross chain access</h2>
<p>At the beginning of June, RLUSD became available to users across different blockchain ecosystems through Wormhole’s Native Token Transfers infrastructure. This move enables the asset to move natively across multiple blockchains, removing the need for wrapped versions. The announcement highlighted plans to support cross border payments, institutional onramps and offramps, as well as tokenization use cases.</p>
<p>Mini glossary: Native Token Transfers refers to a bridge structure that allows a token to move directly between different blockchain networks without creating a wrapped version. Wormhole is known as an interoperability protocol that facilitates the transfer of assets and data across different chains.</p>
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 <p>Ripple has pointed out that Mastercard’s RLUSD and XRP Ledger integration signals increasing demand for digital assets and blockchain infrastructure that can enable faster and more flexible settlement.</p>
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<p>Ripple believes that this integration could significantly widen access to compliant, dollar backed liquidity for developers and institutions operating across various networks. The company expects RLUSD to become notably more accessible, especially for those building on chain finance applications.</p>
<h2 id="mastercard-and-turkish-partnerships-in-focus">Mastercard and Turkish partnerships in focus</h2>
<p>In June, payment giant Mastercard announced plans to support settlement with regulated stablecoins, including Ripple’s RLUSD. Ripple regards Mastercard’s move as a significant indicator of growing institutional interest in digital asset adoption.</p>
<p>Ripple also revealed the rollout of RLUSD for institutional clients in Turkey via partnerships with BiLira, Bitexen, and Bitlo. These collaborations have expanded RLUSD’s accessibility nationwide. Headquartered in San Francisco, Ripple is recognized for its blockchain based payment solutions and institutional digital asset infrastructure.</p>
<h2 id="research-partnership-with-istanbul-technical-university-announced">Research partnership with Istanbul Technical University announced</h2>
<p>Following its recent momentum in Turkey, Ripple revealed Istanbul Technical University as the latest partner under its global University Blockchain Research Initiative. This collaboration, financed by RLUSD, will support advanced research projects and postgraduate scholarship programs.</p>
<p>According to the announcement, an XRP Ledger validator will also be set up on the ITU campus. Thus, even as RLUSD’s issuance and burn rates lean quieter this month, the stablecoin remains at the center of ongoing technical, payment system, and region specific institutional developments.</p>
<p>The post <a href="https://en.coin-turk.com/rlusd-sees-55-9-million-burned-in-june-whats-fueling-the-ripple-ecosystems-latest-moves/" rel="noopener noreferrer nofollow">RLUSD sees $55.9 million burned in June! What’s fueling the Ripple ecosystem’s latest moves?</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

RLUSD sees $55.9 million burned in June! What’s fueling the Ripple ecosystem’s latest moves?

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