- Ripple launched the Ripple Mint platform to automate institutional clients’ RLUSD issuance, redemption, bridging and tracking as it pushes to expand institutional payments.
- RLUSD has expanded its distribution network to XRP Ledger, Ethereum, the XRPL EVM Sidechain, Base, Optimism, Ink and Unichain, while Ripple also made a strategic investment in Notabene.
- RLUSD has a market capitalization of about $1.5 billion, but despite supply spread across multiple chains and gains in holders and active addresses, declines in market value and monthly transfer volume underscore the challenge of expanding real payment use.
Forecast Trend Report by Period
Ripple has launched an institutional minting platform and expanded its partnership network with a compliance provider to broaden adoption of its dollar-pegged stablecoin RLUSD.
CoinDesk reported on July 24 that Ripple introduced Ripple Mint, an automated platform that allows institutional clients to issue, redeem, bridge and track RLUSD.
Previously, clients seeking to mint new RLUSD had to deposit dollars, coordinate directly with Ripple and complete a manual issuance process. Ripple Mint is designed to let institutions automate issuance and redemption through their own systems or a web dashboard, while tracking the transaction process from dollar transfers to on-chain settlement.
Ripple is also widening RLUSD’s distribution network. In addition to XRP Ledger and Ethereum, the stablecoin has expanded to the XRPL EVM Sidechain, Base, Optimism, Ink and Unichain.
Separately, Ripple made a strategic investment in compliance network Notabene. The move could broaden the routes through which institutions send and receive RLUSD by adding the stablecoin to Notabene’s institutional payments platform.
Still, RLUSD’s usage metrics are mixed. Data from RWA.xyz shows the stablecoin has a market capitalization of about $1.5 billion, making it relatively large among regulated stablecoins, though still much smaller than Tether and USDC.
RLUSD supply is split almost evenly between XRP Ledger and Ethereum. About $877 million has been issued on XRP Ledger, while about $643 million has been issued on Ethereum.
The holder base is growing. Data analyzed by CoinDesk showed the number of RLUSD holders rose 6% over the past month, while active addresses jumped 70%, indicating the user base is expanding quickly.
At the same time, RLUSD’s market capitalization fell about 5% over the same period, while monthly transfer volume dropped 25% to about $11 billion from roughly $14.6 billion. That means more wallets are holding RLUSD, but the amount actually used for payments or remittances has declined.
CoinDesk said RLUSD is spreading as an asset to hold, but needs stronger transaction volume to establish itself as actively used payment infrastructure.
RLUSD is issued by Standard Custody & Trust, which holds a limited-purpose trust charter from New York financial regulators. Ripple is using that regulatory footing to target banks and institutional clients.
Source: Original Article
