RLUSD Surpasses $1B Circulating Supply as Ripple Mints 10 Million

Ripple has minted 10 million RLUSD on the XRP Ledger, despite a mild decline in activity in September. This brings the total circulating supply of RLUSD above $1 billion, currently sitting at $1,053,014,745. According to Ripple's stablecoin tracker website, $45.6 million RLUSD was minted in the last seven days on the XRP Ledger, and $22.8 million RLUSD was burned on the blockchain.

The slowdown in activity is not limited to the XRP Ledger, as Ethereum also saw a decrease in RLUSD minting and burning during this period. On September 10, $0 RLUSD was minted on the XRPL with $1.5 million burned; September 11 saw minting activity resume on the XRPL with a total of $21.9 million RLUSD minted and $387,000 RLUSD burned.

RLUSD has been gaining traction, joining Sparks Stablecoin FX Layer on Uniswap V4, with RLUSD/USDS processing more than $600 million in its first week. Ripple's subsidiary, Standard Custody & Trust Company, issues RLUSD under a limited-purpose trust company charter granted by the NYDFS.