Ripple mints around $250M of RLUSD in a week as the stablecoin's market cap hits $1.84B

Supply Jumps $250M in Seven Days

@Ripple has minted approximately $250 million worth of its dollar-backed stablecoin $RLUSD in the space of a week, lifting the token's market cap from roughly $1.59 billion on August 14 to $1.84 billion by August 20, per CoinMarketCap data. That represents a gain of about 16% in seven days. The growth came in distinct steps rather than a single large issuance, consistent with successive treasury mints responding to institutional demand.

According to data from RL Tracker, a community-driven RLUSD tracker, Ripple minted $30 million worth of RLUSD on the XRP Ledger in two transactions within five hours on August 17 alone. The first transaction came at 03:21 UTC, with another $20 million following just over five hours later. On August 14, Ripple had already minted $10 million in RLUSD before adding another $20 million less than an hour later, bringing the total minted on the XRP Ledger since August 14 to $60 million. The broader $250 million supply increase tracked by CoinMarketCap reflects activity across both the XRP Ledger and Ethereum, where RLUSD also circulates natively.

Daily trading volume for the token now sits at $669 million, up 164% over 24 hours, with $RLUSD ranked #38 by overall market cap.

Regulated Structure Behind the Growth

Standard Custody and Trust Company issues RLUSD under a limited purpose trust charter from the New York State Department of Financial Services, giving the stablecoin a direct U.S. regulatory connection through New York. Reserves are held as US dollar deposits, short-term US Treasury bills, and cash equivalents in segregated accounts, with BNY Mellon serving as the primary custodian. Independent attestations are published monthly by Deloitte.

Ripple Mint, the company's institutional minting platform, allows customers to issue, redeem, and transfer RLUSD for settlement, liquidity, and treasury operations, meaning some issuance can reflect inventory management rather than net new investment. Even accounting for that nuance, the scale of supply expansion over the past week points to meaningful demand from institutional counterparties.

RLUSD has become one of the fastest-growing stablecoins in the market since its December 2024 launch. The token is fully backed 1:1 by cash and U.S. Treasuries held in segregated accounts, with monthly third-party attestations and oversight from the New York Department of Financial Services and the Dubai Financial Services Authority. With the $2 billion mark now within reach, the pace of minting suggests Ripple is building out RLUSD as serious payments infrastructure rather than a side project.

Sources
Crypto News: Ripple mints 10 million RLUSD as supply hits 1.71B
The Crypto Basic: Ripple Boosts RLUSD Mints on XRP, Deploys $30M in 5 Hours
CoinDesk: Ripple's RLUSD gets two boosts as transfer volume drops 25%