Ripple’s RLUSD gets two boosts as transfer volume drops 25%
Ripple launched an institutional minting platform and added RLUSD to Notabene’s compliance network as holder growth rose but monthly transfer volume fell to $10.95 billion.
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Summary
- Ripple launched Ripple Mint, an automated platform for institutions to create, redeem, bridge and track its dollar-backed RLUSD stablecoin, and expanded the token to additional networks including the XRPL EVM sidechain, Base, Optimism, Ink and Unichain.
- The company also made a strategic investment in compliance network Notabene, integrating RLUSD into its business-payments platform to encourage institutional use of the token for real transaction volume.
- RLUSD now has a market value of about $1.5 billion with supply split between the XRP Ledger and Ethereum, but despite rising holder counts and active addresses, its market cap and monthly transfer volume have declined, suggesting it is being held more than used.
