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According to the Ripple stablecoin tracker website, $55.9 million in RLUSD was burned in the last seven days amid quiet minting and burn activity in June.
June started with significant RLUSD activity, with $127.4 million minted and $12 million burned on the first day of the month.
However, activity declined as June progressed, with less RLUSD minted than burned. In the last seven days, $55.9 million in RLUSD was burned according to the Ripple stablecoin tracker website, while $8.8 million was minted.
There was less activity compared to what was seen in May, despite numerous announcements regarding RLUSD in June.
It is midway through the month; while June seems quiet on the minting and burning activity front, this cannot be said generally, as RLUSD has received noteworthy announcements in the month.
June marks key announcements for RLUSD
At June's start, RLUSD went live across ecosystems via Wormhole's Native Token Transfers (NTT), allowing it to move natively across multiple blockchain ecosystems, supporting cross-border payments, institutional on/off-ramps, and tokenization use cases. This is expected to expand access to compliant, USD-backed liquidity across supported networks for developers and institutions building onchain.
In June as well, payment giant Mastercard announced it will support settlement using regulated stablecoins, including Ripple's RLUSD.
According to Ripple, Mastercard's support for RLUSD and the XRP Ledger indicates increasing demand for digital assets and blockchain infrastructure that can power faster and more flexible settlement.
In a separate announcement, Ripple announced that its USD-backed stablecoin Ripple USD (RLUSD) has become available to institutions in Türkiye through three new partnerships with BiLira, Bitexen and Bitlo.
Building on RLUSD's momentum in Türkiye, Ripple announced Istanbul Technical University (ITU) as its latest partner in the global University Blockchain Research Initiative (UBRI). Funded via RLUSD, this partnership will support advanced research initiatives and graduate fellowships while establishing an XRP Ledger (XRPL) validator directly on the ITU campus.
U.Today Editorial Team
Dan Burgin
