Ripple Boosts RLUSD with New Initiatives

Ripple Labs is pushing to grow its dollar-backed stablecoin RLUSD through two new initiatives. The company launched Ripple Mint, an automated platform that allows institutional customers to create, redeem, bridge, and track RLUSD. This platform aims to simplify the process of issuing and managing RLUSD.

Additionally, Ripple extended RLUSD's availability on multiple networks, including the XRPL EVM sidechain, Base, Optimism, Ink, and Unichain. The company also made a strategic investment in Notabene, integrating RLUSD into its business-payments platform to encourage institutional use of the token.

Despite these efforts, RLUSD's market cap slipped 5% over the past month, while monthly transfer volume fell by 25%. However, holder counts and active addresses have increased sharply, indicating a growing user base. The supply of RLUSD is divided almost evenly between the XRP Ledger and Ethereum.