Minting of Ripple USD stablecoins has been paused for now, with no new tokens being issued in the past week.
The Ripple Stablecoin Tracker X account (@RL_Tracker) reported that the Ripple Treasury did not mint any RLUSD coins in the past week.
Ripple Stablecoin Tracker reported that the Treasury last minted RLUSD on April 25. On that day, the Treasury created two batches of 11,500,000 RLUSD each and one batch of 15,000,000 RLUSD. Before that, the Treasury burned 15,000,000 RLUSD. Within just 24 hours, Ripple also created 38,000,000 XRP.
No New RLUSD Tokens Issued Over the Past Week
Before issuing those stablecoins, Ripple minted 12,000,000 RLUSD in a single transaction and then burned them. Since the April 25 minting, no further minting has occurred.
Recent data from Arkham shows that the total supply of the recently launched stablecoin has reached 317,042,711.84 RLUSD. Ripple has issued approximately 70% of this supply on the Ethereum chain instead of the XRP Ledger.
Over the last two months, regular pauses in the minting of RLUSD by Ripple have been observed. These pauses last two to three weeks at a time. Ripple has been injecting new coins into circulation at a gradual pace, without urgency. As of now, RLUSD has reached a market capitalization of $316.88 million. This ranks it in 217th place.
Ripple has expanded the utility of RLUSD by integrating it into a new product within the Ripple Payments network, previously known as On-Demand Liquidity (ODL).
RLUSD Integrated into Ripple Payments System
Ripple initially designed the stablecoin for enterprise use, branding it as a “golden standard stablecoin” for businesses. However, Ripple later expanded its utility. They integrated it into Ripple Payments, a service commonly used by retail customers for remittances, alongside XRP.
Additionally, users have increasingly utilized RLUSD as collateral on DeFi platforms and centralized finance applications. Nonprofit organizations are also accepting it for donations. Major crypto exchanges such as Kraken, LMAX Digital, Bitstamp, Bullish, and Zero Hash already offer RLUSD for trading and purchasing.
Earlier today, Ripple, the crypto giant, transferred 700,000,000 XRP to escrow. This move came ahead of the usual monthly release of 1,000,000,000 XRP, which the company recently shifted from the first to the third day of each new month.
Typically, Ripple locks back 700 million XRP after releasing one billion XRP. However, this time, that was not the case.
