Ripple Stablecoin Supply Rockets in July With 122,500,000 RLUSD Minted

Ripple USD stablecoin, RLUSD's, supply expanded in July, with 122,500,000 tokens minted so far in the month.

In the past week, 45 million were minted alone, with 25,000,000 RLUSD minted at RLUSD Treasury on July 23; 20,000,000 RLUSD were minted on July 25, according to Ripple Stablecoin Tracker.

The increase in supply highlights the growing demand for RLUSD on exchanges and DeFi protocols, where stablecoins play a critical role in liquidity and trading volume.

RLUSD is fully backed 1:1 by USD and cash equivalents and is built for DeFi, payments and applications.

Ripple USD has recently been listed on PDAX, the Philippines' major BSP-licensed cryptocurrency exchange. Bluechip also gave RLUSD an A rating, recognizing it as the most trusted stablecoin on the market.

The market capitalization of the RLUSD stablecoin is approaching $600 million, currently at $577 million. In the last 24 hours, Ripple USD trading volume increased by 129% to $58.34 million.

Ripple pushes RLUSD adoption

Ripple is helping to make stablecoin use mainstream for a wider range of applications. In a first-of-its-kind initiative, Ripple recently announced a $25 million philanthropic commitment using RLUSD to fund leading education nonprofits.

Stablecoins are digital assets that aim to maintain a steady value. They are typically tied to fiat currencies such as USD or EUR, which minimizes the volatility that other cryptocurrencies are known for, providing a stable and viable alternative for everyday transactions.

Stablecoin remittances as a use case are contributing to a general increase in stablecoin adoption, with the average supply of stablecoins in circulation increasing by approximately 28% year-on-year. The total amount of stablecoin transfers reached $27.6 trillion in 2024, surpassing Visa and Mastercard's combined transaction volume.