Ripple’s RLUSD Crosses $2 Billion Milestone Amid Accelerated Minting Campaign

Major Supply Surge Pushes RLUSD Past $2 Billion

San Francisco-based Ripple has achieved a significant milestone with its RLUSD dollar-backed stablecoin, which has now crossed the $2 billion market capitalization mark. This achievement comes as the blockchain firm accelerates its minting operations across both the XRP Ledger and Ethereum networks, according to data tracked by the Ripple Stablecoin Tracker account on X. The stablecoin’s rapid expansion demonstrates Ripple’s commitment to building robust liquidity infrastructure across multiple blockchain platforms, potentially positioning RLUSD as a key player in the broader stablecoin ecosystem.

Aggressive Minting Operations Accelerate Supply Expansion

Ripple has maintained an aggressive issuance schedule in recent days, reflecting heightened efforts to scale RLUSD liquidity across its principal networks. On August 31 alone, the Ripple Stablecoin Tracker reported that 11 million RLUSD tokens were minted at the treasury over a two-hour period, with an equivalent amount burned during the same window. This pattern of rapid minting and burning reflects the firm’s dynamic approach to managing supply levels in response to market conditions and ecosystem demand. The preceding days showcased comparable activity, with the tracker recording a 15 million token mint on August 29. A day prior, on August 28, a 20 million RLUSD issuance occurred on Ethereum. Additional minting transactions were recorded across both networks during this period, including separate issuances of 19.94 million and 19.99 million tokens on Ethereum and a 19.9 million token mint on the XRP Ledger, demonstrating Ripple’s continuous rebalancing of stablecoin supply.

XRPL Reaches $1 Billion Milestone as Cross-Chain Distribution Evolves

A particularly significant development occurred on August 28 when the XRP Ledger’s RLUSD circulating supply surpassed $1 billion for the first time. As of August 20, Ripple’s official transparency page reported $1.87 billion in total circulating RLUSD and $1.98 billion in reserve funds backing the token. Current market data places total RLUSD supply at approximately $2.35 billion, with Ethereum hosting roughly $1.31 billion and the XRP Ledger holding approximately $1.04 billion. This distribution translates to Ethereum representing about 56 percent of combined supply while the XRP Ledger accounts for roughly 44 percent. Earlier in the summer, the balance had temporarily favored the XRP Ledger, but Ethereum has since reclaimed the leading position. The supply and reserve figures undergo independent CPA attestations on a monthly basis, ensuring transparency and accountability in the stablecoin’s backing.

Implications for Cross-Chain Infrastructure

For the XRP Ledger ecosystem, the expansion of RLUSD liquidity carries substantial strategic implications. Stablecoin reserves directly support critical financial functions including payments, decentralized exchange operations, and lending protocols. The continued minting operations reflect Ripple’s strategic focus on scaling RLUSD’s utility and accessibility across its principal networks, positioning the asset as a foundational layer for broader adoption. Scaling stablecoin liquidity directly enhances the XRP Ledger’s value proposition as a payments and settlement infrastructure, with RLUSD serving as a bridge between traditional finance and blockchain-based transactions.

Source: Ripple, via U.Today. Not financial advice.