Ripple Burns 15 Million RLUSD Amid Expanding Market Capitalization
Ripple has burned 15 million of its dollar-pegged token RLUSD, worth approximately $15 million, on Ethereum's null address. This move is part of a broader pattern of rapid-fire treasury transactions.
The burn follows a series of minting events in early September, including the issuance of 18 million new tokens on September 7 and 20 million on September 4. The dynamic nature of RLUSD's supply suggests that circulating tokens are constantly being adjusted to reflect real-time customer flows.
Despite the burns, RLUSD's market capitalization has been expanding, reaching approximately $2.42 billion by September 10, up from around $1.76 billion on August 18. This trajectory indicates that new issuance and institutional adoption are outpacing redemptions, at least on a net basis.
Ripple is actively widening the use of RLUSD across regulated finance, positioning it for institutional payments, lending markets, tokenization projects, and collateral-focused financial products.