Ripple has minted 10 million RLUSD on the XRP Ledger, expanding the circulating supply of its U.S. dollar-pegged stablecoin as institutional adoption gains momentum. The transaction was processed on August 17, and the underlying ledger network handled the entire multimillion-dollar issuance smoothly within seconds. On-chain metrics confirm that the protocol charged a network fee of just 0.000405 XRP (XRP Scan).

The issuance comes amid growing use of stablecoins for corporate settlements and cross-border liquidity, reinforcing RLUSD's role in wholesale digital asset markets. RLUSD reached a $1.71 billion market valuation as institutional adoption accelerated, with circulation surpassing 1.71 billion tokens and daily trading volume exceeding $58 million across verified institutional venues. That footprint still leaves RLUSD among the smaller issuers in a global stablecoin market whose combined circulation exceeds $200 billion and remains dominated by Tether's USDT and Circle's USDC — the competitive backdrop that makes each enterprise corridor Ripple secures significant.

Corporate Liquidity Surge Drives RLUSD Demand

The growth points to rising demand for fully collateralized, yield-bearing dollar assets in enterprise markets. And unlike retail-oriented tokens, where traders mainly chase hype, stablecoins maintain price stability while still carrying the full speed of distributed blockchains. That combination of price stability and settlement speed underpins their appeal to corporate treasuries.

Ripple backs all RLUSD with cash equivalents, short-term government treasuries, and liquid bank deposits. Transparent reserve audits are what "stand behind" the capital-safety claim, and that has boosted enterprise adoption among risk-averse financial institutions. That reserve posture also aligns with the direction of U.S. policy: the GENIUS Act, signed into law in July 2025, established the first federal framework for payment stablecoins and requires issuers to hold high-quality liquid assets — the same class of backing RLUSD discloses.

Wholesale payment processors are using the native ledger to overcome the shortcomings of correspondent banking systems. Settlement finality happens almost instantly, enabling treasury managers to optimize their balance sheets worldwide. As a result, liquidity pools for major institutional liquidity providers continue to grow at an unprecedented rate.

Strategic Partnerships Strengthen Institutional RLUSD Demand

In July, Ripple partnered with compliance leader Notabene to simplify enterprise-level transactional security (announcement). Notabene focuses on Travel Rule compliance infrastructure for financial institutions. The integration enables cross-border banking channels for B2B transfers. Supported by enhanced compliance tooling, key operational barriers are eliminated, directly supporting sustained RLUSD demand among international corporations.

Regulatory developments in major financial markets have also accelerated RLUSD adoption. In June, Japanese regulators approved the stablecoin's launch through SBI VC Trade, opening new payment corridors in East Asia and expanding its cross-border utility. Those approvals build on RLUSD's debut in December 2024, which followed clearance from the New York State Department of Financial Services and gave the token a regulated U.S. entry point from the start.

Data from CoinGecko indicates that 1.73 billion RLUSD are in circulation, slightly above the 1.71 billion figure tied to the $1.71 billion market-capitalization snapshot (CoinGecko). Since its inception in December 2024, the stablecoin's market capitalization has grown considerably, with a 24-hour trading volume of almost $71.58 million. Ripple has also announced plans for a euro-denominated stablecoin, EURUSD, which would extend the same reserve and compliance model into a second currency — the next expansion point to watch on that roadmap.

Market Structure and Enterprise Expansion

The new mint is part of a broader treasury expansion strategy focused on enterprise settlement needs. RLUSD is issued on both the XRP Ledger and Ethereum, and Ripple carefully manages token issuance across those chains, synchronizing it with actual demand. It uses a systematic mint-and-burn process to maintain balanced market liquidity and support institutional users.

Stablecoins are beginning to replace older wire transfers, which are usually slow and expensive, even as legacy institutions work to harden their financial infrastructure. Micro-settlements and high-frequency corporate balancing become economically viable on the XRP Ledger, largely because of its near-zero fees. This efficiency supports longer-term growth by making everyday settlement far less costly.

Overall, the uptick in institutional RLUSD demand points to a bigger pattern: the traditional financial world is moving rapidly toward permissionless blockchains. Ripple remains a major enterprise payments provider with extensive regulatory clearance — standing strengthened by the 2025 resolution of its multi-year securities litigation with the U.S. Securities and Exchange Commission — and a network of strong compliance collaborations.