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Within the last 24 hours, Ripple has issued an additional 2,500,000 RLUSD tokens after earlier minting 2 million RLUSD tokens. On Feb. 28 alone, a total of 4.5 million RLUSD were minted at the RLUSD Treasury. After a brief pause last month, Ripple resumed minting RLUSD stablecoin Feb. 27, issuing 7.1 million RLUSD tokens.
As it's usual practice since RLUSD launched globally in December 2024, Ripple has released its attestation report for January 2025, providing transparency into the assets backing the stablecoin. The report confirms that each RLUSD token is fully collateralized, ensuring stability and reliability for users.
Tomiwabold OlajideIn recent developments this week, Ripple announced its partnership with BDACS to expand institutional crypto custody in South Korea, which will provide secure infrastructure for XRP, RLUSD and other crypto assets.
Ripple and Ondo Finance in January announced a partnership to bring OUSG, tokenized U.S. Treasuries to XRP Ledger, which will be minted and redeemed through RLUSD.
RLUSD gains traction
The recently released RLUSD attestation report has sparked interest in the cryptocurrency community, with prominent XRP community members and ripple executives sharing highlights from the report.
In January, RLUSD experienced good market cap growth, reaching $130 million. Also, there was no major RLUSD burning, according to Vet, an XRPL dunl validator, who shared the report's highlights on X.
According to Jack McDonald, Ripple's SVP of Stablecoins and CEO of Standard Custody, RLUSD reached $7.35 billion in trading volume on XRPL and ETH in its first 60 days of operation (much larger volume than many others) and became available on ZeroHash and Revolut. RLUSD also remains over-reserved, with $7 million more in reserves than the overall RLUSD supply of around $130 million.
McDonald also notes increased inbound interest in adopting RLUSD for on-chain collateralization of tokenized assets, highlighting lots of possibilities ahead. Ripple executive Reece Merrick further reported that many financial institutions are interested in how RLUSD might be used for cross-border settlement and internal treasury payments.
Dan Burgin
Vladislav Sopov