$133M in RLUSD Minted as Ripple Ramps Up Stablecoin Supply Amid Surge
Ripple's stablecoin supply has surged in recent days, with $133.3 million in RLUSD minted on August 3 alone.
This brings the total RLUSD supply on the XRP Ledger to $851 million and represents a significant increase in liquidity for the XRPL ecosystem.
The growth of RLUSD is attributed to rising demand for stablecoin liquidity, as well as the introduction of Ripple Mint last month. This feature allows institutions to mint and redeem RLUSD directly from the source, bridge it across chains, and track funds throughout a transaction's lifecycle.
As the total supply of RLUSD surpasses $850 million, expectations are building around the upcoming XRP Ledger Lending protocol. This will enable institutions and other projects to lend and borrow XRP or RLUSD, potentially unlocking on-chain liquidity.