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Ripple Launches RLUSD Mint as Volume Slips

Ripple is pushing RLUSD deeper into institutional use with a new minting platform and an investment in Notabene, even as monthly volume fell 25%.

By Zenz van der Wielen
• 2 min read
Ripple Launches RLUSD Mint as Volume Slips

Key Takeaways

  • Ripple has launched Ripple Mint, an institutional platform for creating, redeeming, bridging, and tracking RLUSD.
  • Ripple has made a strategic investment in Notabene to make RLUSD more visible in business payment flows.
  • RLUSD's monthly transfer volume fell from about $14.6 billion to $11 billion, while holders and active addresses increased.

Ripple made two moves on Thursday aimed at giving its RLUSD stablecoin more institutional reach, even as monthly transfer volume dropped 25%. The company rolled out a new minting platform for institutions and also announced a strategic investment in Notabene, a compliance network built for business payments.

Minting for Institutions

With Ripple Mint, institutional clients can create, redeem, bridge, and track RLUSD through either a web dashboard or a direct integration with their own systems. Before this, RLUSD minting was mostly handled manually through Ripple. The new APIs are designed to automate issuance and redemption, while also making it easier to follow each step from dollar deposit to onchain settlement.

The launch also fits into Ripple's wider push to expand RLUSD across more networks. The company has already moved the stablecoin beyond the XRP Ledger and Ethereum to the XRPL EVM sidechain, Base, Optimism, Ink, and Unichain, giving it more venues for circulation.

Notabene Is Meant to Drive Adoption

Ripple's second announcement was a strategic investment in Notabene. Through that platform, RLUSD is now part of a business payments environment, which makes the stablecoin more visible to institutions that need to send and receive payments.

The move reflects a broader challenge Ripple is trying to solve: not only issuing stablecoins at scale, but also getting them into real institutional payment flows. According to RWA.xyz, RLUSD has a market value of about $1.5 billion (€1.3 billion), putting it among the larger regulated stablecoins, though it still trails far behind Tether and USDC.

The supply split shows that RLUSD still depends mostly on the XRP Ledger and Ethereum, with about $877 million (€770 million) and $643 million (€564 million), respectively. Even so, the number of holders and active addresses climbed sharply over the past month, rising 6% and 70%, while monthly transfer volume slipped from about $14.6 billion (€12.8 billion) to $11 billion (€9.7 billion).

European Relevance

For European crypto readers, the bigger picture is that Ripple is clearly framing RLUSD as an institutional, compliance-focused stablecoin. The token already has approvals in several jurisdictions, including New York, Dubai, and Japan, which shows how regulated stablecoins are increasingly being built for cross-border use. As stablecoins play a larger role in payments and settlement, competition among issuers is likely to get even more intense.

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