Ripple Conducts Largest-Ever RLUSD Mint

Ripple has just executed the largest single mint in the history of its $RLUSD stablecoin.

According to on-chain data, a staggering 69 million $RLUSD was minted directly on the $XRP Ledger (XRPL) today.

The 69 million tokens appear to be routed toward the Gemini exchange.

A flurry of activity

Over the past week, the $RLUSD Treasury has been highly active, balancing the stablecoin's supply with a series of multi-million dollar mints and strategic burns across both the XRPL and Ethereum networks.

On Feb. 27, 20 million $RLUSD got minted on Ethereum. Roughly 10 million tokens were minted on Ethereum two days before that.

In the meantime, $RLUSD's market cap has already surpassed $1.5 billion, CoinGecko data shows.

$RLUSD has experienced a massive wave of exchange integrations, institutional partnerships, and supply growth over the past several weeks.

Binance officially listed $RLUSD for spot trading in late January. Initially available on Ethereum, Binance completed the technical integration to support $RLUSD natively on the $XRP Ledger (XRPL) in mid-February. As reported by U.Today, the exchange announced an 8.5% Annual Percentage Rate (APR) for $RLUSD holders.

In mid-January, the UK-based institutional exchange LMAX Group announced a major multi-year partnership with Ripple. Integrating $RLUSD as a collateral asset is part of the deal.