Ripple Continues RLUSD Minting Amid Questions Over Institutional Demand

Ripple has continued to mint RLUSD tokens on the XRP Ledger, with the latest transaction adding 10 million tokens on August 17. The total circulating supply of RLUSD now stands at approximately $1.71 billion, according to CoinGecko data.

The transaction used two authorized signers and cost a negligible amount of 0.000405 XRP, but Ripple has not disclosed the receiving customer or the purpose behind the minting. On-chain records from XRPScan show that Ripple's issuer account transferred the tokens to a designated RLUSD destination wallet.

A separate community account reported that 5 million RLUSD had been burned on Ethereum on the same day, although no link between the two transactions has been confirmed. The burn was seen as evidence of a transparent mint-on-demand and burn-on-redemption cycle by the BankXRP community account, but some have questioned whether this is enough to prove genuine institutional adoption.

Ripple's infrastructure for RLUSD continues to expand, with partnerships established in Japan and Türkiye, and a 1 million XRP reward pool launched by Binance. However, until the next monthly reserve attestation, the public ledger can only confirm the minting of tokens without revealing their motive behind it.