Ripple has minted another 10 million RLUSD stablecoins on the XRP Ledger, continuing the steady expansion of its dollar-backed token. The transaction took place on Aug. 17 and comes as RLUSD’s circulating supply has climbed to around 1.711 billion tokens.
According to public XRP Ledger records, Ripple’s issuer account sent the newly created RLUSD to a designated destination account. The transaction cost just 0.000405 XRP and required approval from two authorized signers before it was completed.
While the minting event confirms that 10 million new RLUSD tokens were created, it does not automatically mean institutional demand has increased. Ripple has not revealed who received the tokens or how they will be used. Newly minted stablecoins can remain in company-controlled wallets and may not immediately enter the market.
Creating new RLUSD also does not prove that $10 million in fresh capital entered crypto markets. Ripple’s institutional platform, Ripple Mint, allows approved customers to issue, redeem, transfer, and manage RLUSD for various purposes, including settlements, treasury management, and liquidity operations. In some cases, token creation may simply be part of routine inventory management.
This is not the first recent issuance. Ripple also minted 10 million RLUSD on Aug. 10, although the company did not identify the customer involved in that transaction either. Around the same time, community reports indicated that 5 million RLUSD tokens were burned on Ethereum, reducing supply. However, there is no public evidence linking that burn to the latest mint.
RLUSD’s circulating supply has now returned to roughly 1.71 billion tokens, giving it a market capitalization of about $1.71 billion. Trading volume was reported at around $50 million over the previous 24 hours, though those figures can change throughout the day.
The current supply is higher than Ripple’s Aug. 6 reserve report, which showed approximately $1.59 billion RLUSD in circulation and about $1.70 billion in reserve assets. The difference is mainly due to new blockchain activity occurring after that report was published. Reserve reports provide a snapshot at a specific point in time, while token supply can change daily through new mints and burns.
RLUSD is issued by Standard Custody & Trust Company under a New York trust charter. Ripple says the stablecoin is fully backed by cash, cash equivalents, and short-term U.S. Treasury securities. Independent accounting firms provide monthly attestations to verify reserves and circulation figures.
Ripple has also been expanding institutional access to RLUSD. Through Ripple Mint, approved customers can automate token issuance, redemption, bridging, and monitoring through web tools and APIs. The company has also been growing RLUSD distribution internationally, including partnerships in Japan and Türkiye aimed at increasing adoption among both institutional and eligible retail users.
For now, the key facts are straightforward: Ripple created 10 million new RLUSD tokens, total supply has risen to about 1.711 billion, and there is still no public information showing who received the tokens or whether the issuance was driven by new institutional demand. Future wallet activity, reserve reports, and additional mint or burn transactions will provide a clearer picture of how these newly issued tokens are ultimately used.
