Ripple Doubles Down on Institutional Adoption of RLUSD Stablecoin

Ripple is expanding its RLUSD stablecoin for institutional use despite a drop in transfer volume. The company has introduced Ripple Mint, a platform that allows institutions to create, redeem, bridge, and track RLUSD through a web dashboard or direct API integration.

This move follows a strategic investment in Notabene, a compliance platform that processes over $2 trillion in annualized transaction volume. The integration of RLUSD into Notabene's payment network will make it easier for financial institutions to send and receive the stablecoin while meeting global compliance requirements.

On-chain data shows that monthly transfer volume has dropped by 26%, from around $14.6 billion to $10.89 billion. However, RLUSD's user growth remains strong, with a 68.2% increase in monthly active addresses and a six percent rise in the holder count.