Ripple’s RLUSD gets two boosts as transfer volume drops 25%
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Ripple Labs introduced two initiatives aimed at boosting its dollar-backed stablecoin, RLUSD, amid a notable drop in its monthly transfer volume. The company launched Ripple Mint, an automated platform that enables institutional customers to create, redeem, bridge, and track RLUSD tokens more efficiently via a web dashboard or API integration. Previously, minting RLUSD required direct arrangements with Ripple and involved a manual process. Ripple Mint seeks to streamline these operations and improve the ease of managing the stablecoin. Additionally, Ripple expanded RLUSD’s availability to new blockchain networks including the XRPL EVM sidechain, Base, Optimism, Ink, and Unichain, thereby increasing the token’s circulation options.
Alongside Ripple Mint, Ripple made a strategic investment in the compliance network Notabene, integrating RLUSD into Notabene’s business-payments platform. This partnership is intended to promote RLUSD usage within institutional payment rails by embedding the token within platforms that facilitate business transactions. Ripple’s CEO highlighted that while Ripple Mint focuses on simplifying issuance and management, Notabene is designed to help RLUSD gain actual transactional volume among institutions.
Currently, RLUSD holds a market value of around $1.5 billion, split roughly evenly between the XRP Ledger and Ethereum, with $877 million on XRP Ledger and $643 million on Ethereum. Although the number of RLUSD holders and active wallet addresses increased significantly in the past month—by 6% and 70% respectively—its market capitalization declined by about 5%, and transfer volume dropped by approximately 25%, falling from $14.6 billion to $11 billion. This data suggests that more users are holding RLUSD rather than actively transacting with it, indicating a shift toward accumulation rather than utilization.
RLUSD is issued by Standard Custody & Trust under a limited-purpose trust charter from New York regulators, providing it with regulatory credentials that Ripple uses to attract institutional clients in an environment where regulatory clarity is critical. The company’s current challenge is not only growing the stablecoin’s supply but also increasing its transactional usage within institutional infrastructures. Ripple’s recent launches of Ripple Mint and the Notabene partnership represent strategic efforts to address this gap between issuance and real transactional volume.