- Ripple has minted millions of RLUSD across Ethereum and the XRP Ledger as total supply reaches about $2.35 billion.
- The XRP Ledger now holds more than $1 billion in RLUSD, strengthening its stablecoin liquidity.
Ripple is increasing RLUSD issuance across the XRP Ledger and Ethereum as the stablecoin’s total supply continues to grow.
Millions of RLUSD have been minted across both networks in recent days. The latest activity comes as RLUSD has surpassed the $2 billion supply milestone and reached a total supply of about $2.35 billion.
Ripple Mints 11 Million RLUSD
Ripple minted 11 million RLUSD at its stablecoin treasury on August 31, according to data shared by the Ripple Stablecoin Tracker account on X. The transaction took place within a two-hour period.
A separate transaction around the same time recorded the burning of another 11 million RLUSD at the treasury. Minting creates new RLUSD, while burning removes existing tokens from circulation.
The latest activity follows several large RLUSD treasury transactions over the past few days. Ripple minted 15 million RLUSD on August 29, while a 20 million RLUSD mint took place on Ethereum on August 28.
Other recent transactions included two Ethereum mints of 19.94 million and 19.99 million RLUSD. The XRP Ledger also recorded a separate mint of 19.9 million RLUSD.
These transactions show that Ripple has been actively adjusting RLUSD supply across Ethereum and the XRP Ledger as the stablecoin expands.
RLUSD Supply Reaches About $2.35 Billion
RLUSD has reached several important milestones in August.
On August 28, the stablecoin’s circulating supply on the XRP Ledger exceeded $1 billion. The milestone came shortly after Ripple reported strong growth in its overall RLUSD supply.
Ripple’s transparency page showed $1.87 billion in circulating RLUSD and $1.98 billion in reserve funds as of August 20. The company states that its supply and reserve figures are subject to monthly independent CPA attestations.
Since those figures were reported, RLUSD supply has increased further. Market trackers now estimate the total supply at about $2.35 billion.
Ethereum currently holds around $1.31 billion in RLUSD, while the XRP Ledger accounts for approximately $1.04 billion. Ethereum therefore represents about 56% of the combined supply, compared with roughly 44% for XRPL.
The distribution has changed during the summer. The XRP Ledger briefly held more RLUSD than Ethereum before Ethereum reclaimed the lead as issuance on the network increased.
Growing RLUSD Supply Could Support XRPL
The increase in RLUSD supply could have wider implications for activity on the XRP Ledger.
Stablecoins provide liquidity for several blockchain applications, including payments, decentralized exchanges and lending. More RLUSD on XRPL could give users and applications access to a larger pool of dollar-denominated liquidity.
Ripple’s continued minting also points to its efforts to expand RLUSD across both of its main blockchain networks. Ethereum remains the larger market for RLUSD, but the XRP Ledger has now passed the $1 billion supply mark.
The latest treasury activity comes as Ripple continues to scale its stablecoin operations. With RLUSD supply now around $2.35 billion, further issuance could increase its role across the XRP Ledger and Ethereum.
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Disclaimer:
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry risk, and readers should conduct their own research before making any investment decisions.
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