Ripple mints 10M RLUSD on XRP Ledger, stablecoin supply hits $1B
In brief
- Ripple minted 10M RLUSD on XRP Ledger, pushing total supply above $1.053 billion
- September minting declined sharply: $143.1M on Sept 1, zero activity Sept 10
- Clearpool migrates core infrastructure to XRP Ledger for institutional credit fund in RLUSD
Supply Growth Amid Activity Slowdown
Ripple minted 10 million RLUSD on the XRP Ledger, expanding its institutional stablecoin presence. The circulating supply now stands at $1,053,014,745, solidifying RLUSD's position as a material asset on the network.
September's activity pattern, however, tells a different story. On September 1, $143.1 million RLUSD was minted with $7.2 million burned, but subsequent days saw a sharp decline. September 10 recorded zero minting and $1.5 million in burns. Activity resumed on September 11 with $21.9 million minted and $387,000 burned. Over the past seven days, minting totaled $45.6 million against $22.8 million in burns.
The slowdown wasn't isolated to the XRP Ledger. Activity declined across both the XRP Ledger and Ethereum, suggesting broader market conditions rather than network-specific friction.
Institutional Momentum on the Horizon
RLUSD joined Sparks Stablecoin FX Layer on Uniswap V4, processing more than $600 million in its first week, demonstrating institutional appetite for the asset across decentralized venues.
More significant is the infrastructure shift underway. Clearpool, Ripple's on-chain credit partner, is moving its core infrastructure from Ethereum to the XRP Ledger. Together with Cicada Partners, Clearpool is launching an institutional credit fund to finance fintech and payment companies, with settlements in RLUSD.
RLUSD launched in December 2024 under a limited-purpose trust company charter, giving it regulatory backing that many competing stablecoins lack. The combination of institutional infrastructure migration and growing DeFi integration suggests the stablecoin's ecosystem is maturing even as near-term minting activity softens.
