Ripple Mints 23 Million RLUSD to Boost Stablecoin Liquidity

Ripple has minted 23,000,000 RLUSD in the past 24 hours, according to data from the Ripple stablecoin tracker, a community-run X account monitoring RLUSD transactions. The minting was executed through two separate transactions of 11,500,000 RLUSD each at the RLUSD Treasury, Ripple's primary stablecoin issuance center. This strategic move underlines Ripple’s commitment to expanding RLUSD’s supply to meet rising demand across liquidity pools, exchanges, and payment channels.

The timing is notable as RLUSD recently launched on Aave’s V3 Ethereum Market, where users can now supply and borrow the stablecoin. Aave has set a supply cap of 50 million RLUSD and a borrow cap of 5 million RLUSD, signaling strong expectations for its integration. According to IntoTheBlock, RLUSD supply on Aave reached an all-time high of over 77 million RLUSD.

Commenting on the transaction, Vet, an XRPL dUNL validator and co-founder of xrpcafe, suggested the minting could be to replenish RLUSD inventory amid growing market adoption. Ripple had previously integrated RLUSD into its Ripple Payments system earlier in April, expanding its use in cross-border transactions.

Launched globally in December 2024, RLUSD is a U.S. dollar-pegged stablecoin available on both the XRP Ledger and Ethereum blockchains. It is fully backed by U.S. dollar deposits, short-term Treasury securities, and cash equivalents. RLUSD currently holds a market capitalization of approximately $317 million, based on CoinMarketCap data.

Ripple’s latest activity reflects a broader push to strengthen RLUSD’s position as a major stablecoin, especially as the market experiences heightened volatility and increasing demand for reliable digital dollar alternatives.