Ripple has minted 10 million RLUSD on the XRP Ledger, a move that highlights the strength of RLUSD supply surpassing $1 billion despite a recent slowdown in transaction pace during early September. Currently, the circulating RLUSD on the network rests at approximately $1.053 billion.
Print and Burn Dynamics in September
During September, the activity involving RLUSD showed limited fluctuations except on the 1st of the month. On September 1, XRP Ledger saw a significant issuance of 143.1 million RLUSD, alongside a burn of 7.2 million RLUSD. The succeeding days witnessed relatively lower volumes.
Notably, on September 10, no new RLUSD was created on the XRP Ledger, and instead, 1.5 million RLUSD were burned. Issuance resumed on September 11 with 21.9 million RLUSD coming into circulation, while 387,000 RLUSD were removed. The last week also reflected comparable trends on the Ethereum side with zero RLUSD minted on September 10 and an issuance of 528,000 RLUSD on the following day, demonstrating a parallel slowdown.
According to an account monitoring Ripple’s stablecoin activities, “The latest minting activity on XRP Ledger occurred with the issuance of 10 million RLUSD.”
Where is RLUSD Heading?
Indeed, RLUSD has found additional utility through its integration into the Sparks Stablecoin FX Layer on Uniswap V4. The trading pair, RLUSD and USDS, generated over $600 million in trading volume in its opening week, marking the token‘s expansion beyond the Ripple ecosystem into decentralized finance.
Moreover, Clearpool is transitioning its core infrastructure from Ethereum to the XRP Ledger. Known as Ripple’s on-chain credit partner, Clearpool is collaborating with Cicada Partners to establish an institutional credit fund aiming to provide financing to fintech and payment firms. Settlement and payments are planned to occur solely in RLUSD.
- RLUSD supply has sustained over $1 billion despite initial transaction pace slowdowns.
- The token’s integration into decentralized finance platforms highlights its expanding use case.
- Infrastructure moves by Clearpool illustrate growing confidence in the XRP Ledger.
RLUSD was first launched in December 2024 by Ripple’s affiliate, Standard Custody & Trust Company, under a limited-purpose trust company charter authorized by the NYDFS. This framework underscores Ripple’s commitment to a more stringent regulatory approach, drawing upon a trust charter model, independent regular audits, segregated reserves, active NYDFS oversight, and a pending federal license tier.
