Ripple's Stablecoin Supply Tops $2.3 Billion After Latest Mint

Ripple, the company behind the XRP Ledger, minted 11 million RLUSD on August 31, bringing the total supply to over $2.3 billion. This is according to data from CoinGecko, which places the circulating supply and market capitalization of RLUSD at approximately $2.37 billion as of August 31.

The minting of 11 million RLUSD was followed by a matching 11 million-token burn, suggesting that the net increase in supply was zero. Ripple's transparency page reports that the company has $1.866 billion in circulating RLUSD and $1.981 billion in reserve funds as of August 20.

The latest issuance of RLUSD brings the total supply to over $2 billion, a milestone reached less than two years after its launch in December 2024. Ripple's stablecoin is available on multiple networks, including Ethereum and XRP Ledger, with the latter holding a larger portion of the network's tokens.

While the minting of RLUSD does not necessarily show net demand, it may add dollar liquidity to the XRP Ledger. The next reserve report will provide more insight into whether Ripple maintained reserve assets above circulating liabilities as RLUSD moved beyond $2 billion.