Ripple mints 10 million RLUSD as supply hits 1.71B

Ripple minted 10 million Ripple USD tokens on the XRP Ledger on Aug. 17, completing another large issuance transaction as the stablecoin’s circulating supply reached approximately 1.711 billion.

Public data cited by XRPScan showed that Ripple’s issuer account transferred the tokens to a designated RLUSD destination account. The transaction cost 0.000405 XRP, used two authorized signers and recorded a maximum delivery amount of 10 million RLUSD.

Ripple did not identify the receiving customer or disclose the tokens’ intended use. The transaction confirms issuance, but it does not independently support claims that “institutional demand grows.”

RLUSD mint does not confirm customer demand

A stablecoin mint creates tokens on a blockchain. It does not prove that the tokens immediately entered exchanges, payment channels or institutional portfolios. Newly issued RLUSD can remain in controlled accounts until an approved customer completes a transaction.

The ledger entry also does not establish that $10 million entered the broader crypto market. Ripple Mint allows customers to issue, redeem and transfer RLUSD for settlement, liquidity and treasury operations. Some issuance can therefore reflect inventory management rather than new investment.

Ripple completed another 10 million token mint on Aug. 10. As crypto.news reported, the transaction occurred while RLUSD’s supply remained below earlier summer levels. Ripple did not name the customer behind that issuance either.

A separate post by the BankXRP community account reported that 5 million RLUSD had been burned on Ethereum. Burns remove tokens from circulation and can accompany customer redemptions. Available records do not show whether the burn and the Aug. 17 XRPL mint were connected.

RLUSD supply returns to the $1.71 billion area

CoinGecko placed RLUSD’s circulating supply near 1.711 billion tokens on Aug. 17. Its market capitalization was approximately $1.71 billion, while reported 24 hour trading volume was around $50 million when checked. Market data can change throughout the day.

The latest supply figure was higher than Ripple’s Aug. 6 disclosure. Its transparency page reported $1.5896 billion of circulating RLUSD and $1.7026 billion of reserve assets as of that date.

The difference reflects the timing of the reserve snapshot and later blockchain activity. Monthly attestations provide a historical view rather than a live balance. Mints and burns recorded after the reporting date can change circulating supply before the next report.

Supply has also fluctuated during 2026. The Aug. 10 mint occurred after earlier burns reduced circulation. Individual issuance transactions should therefore be considered alongside redemptions and burns rather than treated as permanent growth.

U.S. oversight governs RLUSD reserves

Standard Custody & Trust Company issues RLUSD under a limited purpose trust charter from the New York State Department of Financial Services. The arrangement gives the stablecoin a direct U.S. regulatory connection through New York.

Ripple says RLUSD is redeemable at one U.S. dollar and backed by segregated reserves. Those reserves include cash, cash equivalents and short term U.S. Treasury securities. An independent accounting firm licensed in the United States conducts monthly attestations.

The Aug. 6 reserve disclosure showed assets exceeding the reported circulating supply at that date. It does not establish the exact reserve balance when the Aug. 17 mint occurred. A later attestation will provide the next formal comparison between outstanding tokens and reserve assets.

Regulatory oversight also does not identify the customer behind each mint. The framework covers areas including reserve management, redemption rights and reporting, while public ledger records show token movements.

Ripple widens institutional access to RLUSD

Ripple introduced Ripple Mint in July for approved institutional customers. The platform provides a web interface and application programming interfaces for minting, redeeming, bridging and monitoring RLUSD.

As previously reported, Ripple designed the platform so institutional customers can automate minting and redemption workflows. Customers can receive notifications covering fiat receipt, mint processing, blockchain settlement and payout completion.

Ripple also made an undisclosed investment in Notabene. The companies plan to add RLUSD to Notabene Flow and explore connections between Notabene’s transaction authorization system and Ripple Payments. They have not announced the first customer or a completion date.

International access has expanded alongside that infrastructure. In June, Ripple and SBI opened a new distribution channel after RLUSD became available to customers in Japan. SBI VC Trade offers the token to eligible retail and institutional customers through VCTRADE.

Ripple also partnered with BiLira, Bitexen and Bitlo to make RLUSD available to institutions in Türkiye. These developments support Ripple’s broader institutional strategy, but none identifies the party behind the latest mint.

What happens next for the 10 million tokens

Future transactions from the destination account may show whether the tokens move to an exchange, payment provider, market maker or another controlled wallet. Wallet movements may still leave the customer’s identity and commercial purpose undisclosed.

Later burns will determine whether the mint produces lasting supply growth. Ripple has not published a future issuance schedule or a deadline for disclosing customer activity connected to the transaction.

The next monthly reserve report will provide the clearest formal update on circulation and backing. Until then, the verified facts remain limited: Ripple minted 10 million RLUSD on XRPL, supply reached about 1.711 billion, and the public record does not prove growing institutional demand.