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Ripple recently made a fresh move, minting 23,000,000 RLUSD over the past 24 hours. According to data from Ripple's stablecoin tracker, a community X account that tracks the minting, redemption and transfer of Ripple's RLUSD, the minting was carried out in two separate transactions, each totaling 11,500,000 RLUSD.
Both minting events took place at the RLUSD Treasury, Ripple's central hub for stablecoin issuance. This RLUSD minting demonstrates Ripple's commitment to expanding the supply of the stablecoin, positioning it to meet increasing demand across various liquidity pools, exchanges and payment channels.
Tomiwabold OlajideIn early April, Ripple integrated RLUSD stablecoin into its cross-border payments system called Ripple Payments.
What's behind?
According to Vet, an XRPL dUNL validator and co-founder of xrpcafe, who commented on one of the mint transactions, the move could be the replenishing of the RLUSD inventory.
The timing of this mint remains significant, as Ripple RLUSD stablecoin went live on Aave V3 Ethereum Market this week. The move allows Aave users to supply and borrow Ripple's RLUSD stablecoin on the lending platform's V3 Ethereum Core market, with a supply cap of 50 million RLUSD and a borrow cap of 5 million RLUSD set.
Yuri MolchanRLUSD stablecoin is off to a solid start on the Aave V3 Ethereum Market. According to IntoTheBlock, the amount of RLUSD supplied on Aave reached a new all-time high of 77,350,849.54 RLUSD.
RLUSD, a stablecoin pegged 1:1 to the U.S. dollar, is available on the XRP Ledger and Ethereum blockchains. It is entirely backed by U.S. dollar deposits, short-term U.S. Treasury securities and cash equivalents, with each token corresponding to an equivalent fiat value.
The stablecoin was launched globally in December 2024 and currently boasts of $317 million in market capitalization, according to CoinMarketCap data.
Vladislav Sopov
Dan Burgin