RLUSD Hits Historic $1 Billion Supply Milestone on XRP Ledger

The circulating supply of $RLUSD on the $XRP Ledger has surpassed $1 billion for the first time, marking a historic milestone for the Ripple stablecoin.

According to the Ripple Stablecoin Tracker website, $RLUSD circulating supply on the $XRP Ledger is now $1,024,222,594 ($1.024 billion).

This comes as Ripple increases $RLUSD liquidity across its supported blockchain networks, including the $XRP Ledger. Specifically, the last 48 hours have seen an uptick in $RLUSD activity on the $XRP Ledger, with new minting taking place.

On August 27, $26.2 million $RLUSD was minted on the $XRP Ledger with $6.9 million $RLUSD burned; on August 28 so far, $36.9 million $RLUSD has been minted with $7.5 million $RLUSD burned.

The Ripple Stablecoin Tracker X account reported three of these transactions, which occurred over the last 24 hours. Three separate minting transactions on the $XRP Ledger of 19,900,000 $RLUSD, 10,000,000 $RLUSD, and 10,000,000 $RLUSD were reported.

Ethereum has also received $RLUSD transactions in the last 24 hours, with $53.3 million minted so far on August 28 and $5 million burned.

Given the increased activity typically seen at month's close, $RLUSD total circulating supply remains above $2 billion, currently at $2.27 billion according to the Ripple stablecoin tracker page. The circulating supply of $RLUSD on the Ethereum blockchain is currently $1.24 billion.

$XRP Ledger growth continues

This week, the $XRP Ledger surpassed five billion transactions settled in its 14-year span. In a separate development, Ripple has begun an intensive, AI-only security review of Lending Protocol V1.1 for the $XRP Ledger through Sherlock Audit Engine.

In a major milestone, the SEC has declared $XRP treasury company Evernorth's registration statement effective. According to Hussein Zangana (Vet), this could be where $XRP Ledger DeFi begins to leverage liquidity, given Evernorth's initial reserve of 473 million $XRP.

Mastercard has joined as a sponsor of the $XRP Ledger Hackathon that the $XRP Ledger Foundation is co-hosting before the Ripple Swell Event.