Key facts
- Ripple has launched Ripple Mint, a platform for institutions to access, mint, redeem, and manage its RLUSD stablecoin.
- The platform offers access via a web interface or direct API integrations.
- Ripple also invested in compliance network Notabene to integrate RLUSD into its business-payments platform.
- RLUSD, launched in December 2024, has a market capitalization approaching $1.6 billion.
- RLUSD is now available on multiple networks including XRPL EVM sidechain, Base, Optimism, Ink, and Unichain.
Ripple has launched Ripple Mint, an automated platform designed to enhance institutional access to its dollar-backed RLUSD stablecoin. The platform allows institutions to create, redeem, bridge, and track RLUSD through a web dashboard or direct API integration, simplifying previously manual issuance processes and aiming to increase the token's utility for trading, payments, and treasury management.
In parallel, Ripple announced a strategic investment in Notabene, a compliance network for regulated on-chain transactions. By integrating RLUSD into Notabene's business-payments platform, Ripple seeks to encourage institutional use for real transaction volume. Notabene's network processes over $2 trillion in annualized transaction volume.
RLUSD's availability is also expanding beyond the XRP Ledger and Ethereum to include the XRPL EVM sidechain, Base, Optimism, Ink, and Unichain, broadening its circulation across various networks. The stablecoin, issued by Standard Custody & Trust Company LLC under a New York financial regulator charter, currently holds a market value of approximately $1.5 billion, with its supply nearly evenly split between the XRP Ledger and Ethereum.
Despite a recent increase in holder counts and active addresses, RLUSD's market capitalization has slightly decreased, and its monthly transfer volume has fallen by about 25%. This suggests that while more users are holding the stablecoin, its transactional usage is lower, indicating it is being treated more as an asset to own than to use for payments.