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Ripple minted $133.3 million in $RLUSD on the $XRP Ledger on August 3, according to data from the Ripple stablecoin tracker website.
The substantial mint on the $XRP Ledger comes amid growing activity for $RLUSD and rising demand for stablecoin liquidity. The minting introduces new liquidity to the XRPL ecosystem, where $RLUSD has been broadening its role across payments, decentralized finance, and institutional use cases.
In the last seven days, $185 million in $RLUSD has been minted on the $XRP Ledger, bringing the total to $309 million in the last 30 days. $RLUSD supply on the $XRP Ledger has surpassed $850 million, currently at $851 million.
Ripple introduced "Ripple Mint" last month, allowing institutions to mint and redeem $RLUSD directly from the source, bridge the stablecoin across chains, and track funds across the full lifecycle of a transaction. Through the feature, they can also integrate $RLUSD operations into internal systems or workflows.
Expectations are building around the upcoming $XRP Ledger Lending protocol, which will allow institutions and other projects to lend and borrow $XRP or $RLUSD and is regarded as a major unlock for on-chain liquidity.
$RLUSD utility increases
In a major development, $XRP holders can now borrow $RLUSD on Ethereum through Sentora, which manages a $280 million lending pool of Ripple's $RLUSD stablecoin.
According to a recent Flare announcement, $XRP holders can now use its wrapped $XRP (FXRP) as collateral to borrow Ripple's $RLUSD stablecoin on Ethereum via a new isolated market on Morpho Blue.
Flare's wrapped $XRP (FXRP) has been accepted as collateral by Sentora, which manages a $280 million lending pool of Ripple's $RLUSD stablecoin. Borrowers post FXRP and take out $RLUSD against it. The approval opens an isolated FXRP/$RLUSD market on Morpho Blue, where holders can borrow against $XRP exposure rather than sell it.
In a separate development, Ankr's public RPC infrastructure is now live on $XRP Ledger, giving developers direct access to the network without running their own nodes.