Ripple, a blockchain-focused fintech company, has introduced Ripple Mint, a new platform enabling institutions to access, mint, redeem, and manage its US dollar-pegged stablecoin, Ripple USD (RLUSD). The company announced the launch on Thursday.

Ripple described the platform as a unified interface that allows institutional clients to manage RLUSD through either a web-based portal or direct application programming interface (API) integrations. The platform supports both manual operations and automated workflows, catering to institutions adopting stablecoins for payments, trading, and treasury management. The ability to mint and redeem directly, rather than acquiring tokens solely through secondary markets, gives institutions tighter control over settlement timing, transaction costs, and counterparty exposure — a key consideration as banks, fintechs, and corporate treasuries increasingly evaluate stablecoins for on-chain dollar operations.

"Ripple Mint is built to give institutions flexible access to digital dollars through the workflows that fit their needs," Ripple said. The company also announced the platform on X.

RLUSD was initially launched in December 2024 with a primary focus on institutional adoption, though it has subsequently gained traction among retail users. The stablecoin has grown into one of the larger USD-based digital assets by market capitalization, entering the top 10 within less than a year of its debut. That rapid ascent places RLUSD alongside established issuers in a stablecoin market long dominated by Tether's USDT and Circle's USDC, which together account for the bulk of global stablecoin circulation.

According to CoinGecko data, RLUSD reached its all-time high market capitalization on June 1, 2026, surpassing $1.8 billion. Around the Ripple Mint announcement, the stablecoin's market cap briefly rose from approximately $1.54 billion to $1.64 billion before settling near $1.59 billion. At the time of publication, RLUSD ranked as the ninth-largest USD-pegged stablecoin by market capitalization.

Ripple, headquartered in San Francisco, is known for its cross-border payment solutions built on the XRP Ledger. The company has been expanding its presence in the stablecoin sector as institutional demand for digital dollar instruments continues to grow, a trend reinforced by evolving regulatory frameworks for stablecoin issuance in major jurisdictions.

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