Ripple Mints 19.6 Million RLUSD Amid Banking Expansion

Ripple has issued another 19.6 million RLUSD stablecoins on the Ethereum blockchain as treasury activity intensifies and institutional adoption gains momentum. The latest minting follows a major development involving Standard Chartered, which recently launched institutional custody services for Ripple's U.S. dollar-backed stablecoin.

According to data from the Ripple Stablecoin Tracker, the RLUSD Treasury minted approximately $19.6 million worth of tokens on Ethereum. The transaction followed an earlier issuance of 19 million RLUSD, bringing the combined minting volume to 38.6 million tokens.

However, the increased issuance was accompanied by significant token burns. The tracker recorded three separate transactions involving 13 million, 18 million, and 19.6 million RLUSD, totaling 50.6 million tokens removed from circulation.

Across the five transactions, Ripple recorded a net burn of 12 million RLUSD. Notably, both minting transactions occurred on Ethereum, while the token burns took place on the XRP Ledger (XRPL), highlighting treasury movements across the stablecoin's supported blockchain networks.

Despite these fluctuations, RLUSD continues to maintain its position among major U.S. dollar-pegged stablecoins. According to CoinGecko, its market capitalization stands at approximately $2.42 billion, with the token trading close to its intended $1 peg.

The latest treasury activity comes shortly after Standard Chartered announced a significant expansion of its digital asset services.

On October 12, the British banking giant officially introduced institutional custody services for RLUSD issued on the XRP Ledger. The service operates through Standard Chartered's Dubai International Financial Centre branch, which is regulated by the Dubai Financial Services Authority.

The development provides institutional clients with a regulated custody option for holding Ripple's stablecoin, potentially strengthening RLUSD's integration into traditional financial markets.

Standard Chartered is also working with Ripple and LMAX Group on a proposed arrangement that would allow institutional investors to use RLUSD held in the bank's custody as trading collateral on LMAX.

Under the proposed structure, investors could access trading opportunities without transferring their RLUSD holdings directly to LMAX.

However, the collateral arrangement remains subject to testing, final agreements, and regulatory approvals before implementation.

Together, the latest RLUSD minting activity and Standard Chartered's custody launch highlight Ripple's expanding efforts to establish its stablecoin within institutional payments, digital asset custody, and trading infrastructure.