u.today
American blockchain payments firm Ripple Labs Inc. has placed its dollar-pegged stablecoin $RLUSD in the spotlight with a new minting at the treasury. According to data from the Ripple Stablecoin Tracker on X, 3,100,000 $RLUSD were added into circulation.
$RLUSD minting resumes
According to the tracker, this release is the first from the firm in about 17 days after it minted 625,000 $RLUSD on Feb. 10 and then halted the minting. Both the new and previous minting took place on the $XRP Ledger, proving that the region's stablecoin ecosystem is growing.
💵💵💵💵💵💵💵💵💵 3,100,000 #$RLUSD minted at $RLUSD Treasury.https://t.co/8GPuvU7c9s
— Ripple Stablecoin Tracker (@RL_Tracker) February 27, 2025
As one of the newest stablecoins in the industry, $RLUSD has gained significant traction across the board. According to market data, the stablecoin has a total circulating supply of 53 million. When properly profiled, this newly minted token is poised to increase the supply to 56 million.
Based on daily performance, $RLUSD is known to beat its rivals in the stablecoin market. The token has seen its trading volume jump by over 11% in 24 hours to $157.39 million. With this performance, $RLUSD is ahead of Ethena USDe and Circle’s EURC, which have a volume of $118 million and $24.4 million, respectively.
$RLUSD utility
Since its launch, Ripple Labs has been expanding its ecosystem with partnerships that can help advance the $RLUSD use case. As reported earlier by U.Today, $RLUSD secured a major listing on Revolut and Zero Hash earlier this month, expanding its overall accessibility in multiple regions.
The Ripple USD stablecoin boosts AMM liquidity pools on the $XRP Ledger. With the recent AMM amendment deployed on the mainnet, the role of $RLUSD is now even more pronounced.
As a token with a dual chain, there are ongoing talks to deploy $RLUSD on the Cardano protocol. If achieved, it might set a positive new demand base for the coin amid growing competition in the stablecoin world.