Ripple Mints 14 Million RLUSD Stablecoin, Market Cap Surges 3.09%

Ripple has recently minted 14 million RLUSD, its USD stablecoin, on July 2nd. This minting event was conducted via the RLUSD Treasury on the Ethereum blockchain, marking a significant increase in the supply of RLUSD. The total market capitalization of RLUSD has surged by 3.09% over the last day, reaching $469.22 million as of the latest data. This minting event is the only one recorded so far in July, with market participants anticipating more such events throughout the rest of the month. Since its inception in late 2024, the Ripple USD token has accumulated a total supply of $469.24 million.

RLUSD has been gaining considerable traction in the stablecoin market. Just yesterday, its trading volume surged by 260% during the day. However, the token has experienced a significant drop in trading volume, plunging by 59% as of today. This volatility reflects the broader trends in the crypto ecosystem, where high volatility is a common occurrence.

The Ripple ecosystem has been evolving rapidly, particularly since its legal settlement with the SEC and its expansion into institutional payments and real-world asset tokenization. The RLUSD stablecoin has played a pivotal role in these developments. Its comprehensive payment infrastructure makes it well-suited for cross-border payments, driving increased demand among organizations. This demand is further fueled by the stablecoin's enterprise-ready features, which appeal to a wide range of businesses.

Last month, RLUSD expanded its global presence by securing key regulatory approval in Dubai. This approval allows for the legal adoption of the RLUSD token within the Dubai International Financial Centre (DIFC), a special economic zone established in 2004. This move positions the broader Ripple ecosystem for global recognition and builds positive momentum for XRP, Ripple's native cryptocurrency.