Ripple's RLUSD Stablecoin Surpasses $2 Billion Market Cap

Ripple's RLUSD stablecoin has seen an unprecedented surge in minting activity over the past few days, surpassing $2 billion in market capitalization.

According to data from the Ripple Stablecoin Tracker account on X, tens of millions of tokens have been minted across the XRP Ledger and Ethereum. On August 31 alone, 11 million RLUSD was minted at the treasury, followed by another 11 million RLUSD being burned around the same time.

This latest activity follows a series of large RLUSD treasury operations over the past several days, highlighting the pace at which Ripple is adjusting the stablecoin's supply across its two principal networks. The XRP Ledger had briefly surpassed Ethereum in terms of RLUSD supply earlier this summer, but Ethereum has since reclaimed the lead.

The growth of RLUSD on the XRP Ledger is significant, as stablecoin liquidity is closely tied to payments, decentralized exchanges, lending, and other applications. Ripple's ongoing effort to scale RLUSD liquidity demonstrates its commitment to expanding the use cases for this dollar-pegged asset.