Ripple has officially minted 10 million RLUSD (Ripple USD) stablecoins at its RLUSD Treasury, according to data shared by the Ripple Stablecoin Tracker account on X.
Today in a major movement, the U.S. Congress has passed the GENIUS Act which could be a big win for Ripple’s RLUSD. The law gives much-needed clear rules, making RLUSD one of the few stablecoins already following them. This could help more big institutions start using it.
Minting is the process of creating new tokens and adding them to the supply just like printing money, but on the blockchain. It often signals rising demand. Ripple doesn’t mint RLUSD randomly, it often follows a “burn” period, where tokens are removed from circulation to control supply.
RLUSD is a stablecoin that is 1:1 paired with the US dollar and is mostly issued on the Ethereum network. It is designed to be stable, making it perfect for rapid crypto payments, trading, and on-chain transactions with little price volatility.
Ripple has also minted a larger 12 million RLUSD this week, the first significant activity since May. Prior to this, there had been no new RLUSD tokens added to the supply, indicating a period of inactivity in minting. Back in May, the last minting event included two batches, 999,999 RLUSD and 3 million RLUSD. In April, it minted 38 million RLUSD in a single day.
Currently, RLUSD (Ripple USD) has a total of 405.74 million tokens with a market capitalization of $405.63 million. The 24-hour trade volume is close to $60.23 million down by around 50% in the past 24 hours.
Also Read: Ripple’s RLUSD Grabs Spotlight with Alchemy Pay Partnership
