2,008,333 RLUSD Issued in Ripple’s Latest Minting: Details

The last 24 hours have seen a notable issuance of 2,008,333 $RLUSD by the Ripple stablecoin $RLUSD Treasury. Ripple Stablecoin Tracker, a community account on X that tracks the minting, redemption and transfer of Ripple's $RLUSD, reports this development in a tweet, highlighting the latest activity at the $RLUSD Treasury.

The most recent minting event highlights the continued expansion of $RLUSD, with a steady issuance signaling growing demand for the Ripple stablecoin.

In the last 24 hours, 2,008,333 $RLUSD were minted at $RLUSD Treasury. Jan. 16 saw the minting of 5,868,226 $RLUSD at the $RLUSD Treasury in two separate tranches of 690,000 $RLUSD and 5,178,226 $RLUSD.

The timing of the mintings coincides with growing interest in stablecoins as a haven in the often volatile cryptocurrency market. Stablecoins are designed to maintain a stable value by being pegged to a reserve asset, such as the U.S. dollar. The $RLUSD token in this context is fully backed by U.S. dollar deposits, U.S. government bonds and cash equivalents.

Ripple stablecoin gains traction

Ripple USD ($RLUSD) stablecoin officially launched on global exchanges Dec. 17, 2024.

This year, Ripple announced it had adopted the Chainlink Standard to further Ripple USD ($RLUSD) utility and access in DeFi. With the Chainlink standard, Ripple can provide the $RLUSD ecosystem access to high-quality off-chain data through Chainlink’s infrastructure, which has facilitated over $18 trillion in transaction value.

$RLUSD, issued on the $XRP Ledger (XRPL) and Ethereum blockchains, is natively composable with smart contract applications such as those seen in DeFi.

$RLUSD initially launched on Uphold, Bitso, MoonPay, Archax and CoinMENA, with additional listings following on platforms such as Bullish and Bitstamp. Ripple President Monica Long expects to see the $RLUSD stablecoin on more platforms "imminently" while predicting an $XRP ETF soon.