Ripple's RLUSD Hits New Milestone on XRP Ledger Amid Slowing Activity

Ripple's stablecoin, RLUSD, has seen significant activity on the XRP Ledger in recent days. The company minted 10 million RLUSD on September 1, which added to the existing supply of RLUSD on the XRPL blockchain. Despite a mild decline in activity in September so far, the total amount of RLUSD minted over the last seven days has been $45.6 million.

The circulating supply of RLUSD remains above $1 billion on the XRP Ledger, currently at $1,053,014,745. This is despite a slowdown in activity on both the XRP Ledger and Ethereum blockchain. On September 10, no RLUSD was minted on XRPL, but $15 million was burned on Ethereum. The following day, September 11, saw a resumption of minting activity on both blockchains.

The addition of RLUSD to the XRP Ledger is part of Ripple's efforts to provide a more stable and secure payment system for its users. The company has been working with Clearpool, an on-chain credit partner, to launch an institutional credit fund that will finance fintech and payment companies using RLUSD.