- Ripple minted 15 million RLUSD as Ethereum circulation climbed above $712 million.
- New South Korean exchange listings expanded RLUSD’s reach among crypto traders.
- Ripple is positioning RLUSD for cross-border business payments beyond trading.
Ripple has minted 15 million RLUSD on the Ethereum blockchain, adding to a series of recent supply adjustments as the company expands the stablecoin’s presence in digital payments. The latest issuance, tracked by Ripple Stablecoin Tracker, comes as RLUSD secures new exchange listings and gains a larger role in Ripple’s payment network.
The mint followed several transactions across Ethereum and the XRP Ledger within the past day. Ripple first removed 15 million RLUSD from circulation on the XRP Ledger before issuing another 10 million tokens on Ethereum on July 29. Those transactions lifted RLUSD’s circulating supply on Ethereum to more than $712 million tokens.
Over the past week, Ripple has issued 36.5 million RLUSD on Ethereum while taking 25.3 million tokens out of circulation. The activity suggests the company is actively balancing liquidity between the two networks as demand evolves.
RLUSD Supply Shifts Between Ethereum and XRP Ledger
The XRP Ledger remains the largest home for RLUSD, with roughly $873 million worth of the stablecoin in circulation. Unlike Ethereum, however, recent activity on the network has seen more tokens removed than created. During the past seven days, Ripple minted 65.4 million RLUSD on the XRP Ledger but burned 68.7 million, trimming the overall supply.
Network activity has continued to pick up despite those adjustments. According to RWA.xyz, stablecoin transfers on the XRP Ledger climbed 10.8% over the past month, reaching $4.28 billion. The increase points to stronger transaction activity as RLUSD becomes more widely used across Ripple’s payments ecosystem.
South Korean Listings Broaden RLUSD Access
South Korea became another growth market for RLUSD this week after Upbit and Bithumb added support for the stablecoin. Upbit launched trading against the Korean won, Bitcoin and USDT while enabling deposits and withdrawals on the XRP Ledger. Bithumb listed RLUSD in its Korean won market and also supports transfers through the XRP Ledger.
Ripple is expanding RLUSD beyond crypto trading as well. Its recent investment in payments company Notabene will allow the stablecoin to be used through Notabene Flow, a business payments platform. The companies are also exploring payment authorization services that connect with Ripple Payments, adding another use case for RLUSD outside digital asset exchanges.
Related: South Korea Arrests Three Suspects Over Fake Flare Network XRP Scam
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