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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.
U.Today Editorial Team
Dan Burgin
