Ripple made two moves on Thursday to expand its dollar-backed stablecoin RLUSD, even as monthly transfer volume across the token fell 25%. The company launched Ripple Mint, an automated issuance platform for institutions, and made a strategic investment in compliance network Notabene. RLUSD now carries a market value of about $1.5 billion, though wallets are accumulating it faster than they are spending it.
Ripple made two moves on Thursday to grow its dollar-backed stablecoin RLUSD, in a month when transfer volume across the token dropped 25%.
An automated path to minting
The first is Ripple Mint, a platform that lets institutions create, redeem, bridge and track RLUSD through a web dashboard or direct integration. Until now, minting the token — issuing new units when a customer deposits dollars — generally meant arranging it directly with Ripple and waiting on a manual process.
Those APIs let a firm trigger minting and redemption automatically and track each transaction from dollar transfer to onchain settlement. Ripple has also extended RLUSD beyond the XRP Ledger and Ethereum onto the XRPL EVM sidechain, Base, Optimism, Ink and Unichain.
A bet on institutional payment rails
Separately, Ripple announced late Thursday a strategic investment in Notabene, a compliance network. The deal places RLUSD inside Notabene’s business-payments platform, putting the token in front of institutions positioned to send and receive it. Where Mint makes RLUSD easier to create, Notabene is meant to get it moving.
Holders climb while volume slips
The token carries a market value of about $1.5 billion, according to RWA.xyz, making it one of the larger regulated stablecoins but still a fraction of Tether and Circle’s USDC. Its supply splits almost evenly between the XRP Ledger’s roughly $877 million and Ethereum’s about $643 million.
Adoption is broadening: holder count and active addresses climbed 6% and 70% over the past month. Yet its market cap slipped almost 5% over the same 30 days. Monthly transfer volume fell about 25%, from roughly $14.6 billion to $11 billion, a sign more wallets are holding RLUSD while less money moves across it.
RLUSD is issued by Standard Custody & Trust, which holds a limited-purpose trust charter from New York’s financial regulator. Growing a stablecoin’s supply is one challenge; turning it into rails that institutions run real volume through is the harder one.
Source: CoinDesk
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