Ripple's RLUSD Stablecoin Surpasses $2 Billion in Trading Volume

Ripple's RLUSD stablecoin saw significant growth on the XRP Ledger as the company minted 811,026 new tokens on August 6. The transaction was processed successfully under ledger 106,109,031 and cost exactly 0.000405 XRP to process.

The increase in supply marks a major milestone for RLUSD, which has rapidly grown its presence on the network since July when it exceeded 50% of the total stablecoin supply available across XRPL.

Ripple's exact purpose for the latest RLUSD issuance is unclear, but new units may support institutional settlements, treasury management, and customer issuance requests. The growth in RLUSD supply has moved Ripple's asset ahead of competing stablecoins on the XRP Ledger.