Ripple has launched Ripple Mint, an institutional-grade platform that consolidates institutional management of the company’s official stablecoin, Ripple USD (RLUSD).
Previously, corporate entities had to conduct their RLUSD-related transactions manually on fragmented platforms. This increased difficulty in organizing and coordinating their crypto activities. Ripple Mint solves all this by presenting itself as a unified central management hub from which users can access, mint, and redeem RLUSD into fiat currency.
The software enables users to transact the stablecoin across multiple chains, including the XRP Ledger (XRPL), Ethereum, and prominent Layer-2 scaling networks such as Base and Optimism. It features programmatic webhook notifications and unified reference IDs to track transactions at its various stages: fiat receipt, token minting, on-chain settlement, and payment completion.
Institutions can access Ripple Mint via its official dashboard or connect it to their software using application programming interfaces (APIs). The console will serve a wide array of organizations, including crypto exchanges, market makers, payment providers, and fintech companies.
As Ripple notes, RLUSD operations on Ripple Mint are backed by standard compliance. The stablecoin is issued by the Standard Custody & Trust Company, a heavily regulated, institutional-grade financial services company. Additionally, RLUSD is regulated under the New York State Department of Financial Services (NYDFS).
Launched nearly two years ago, the RLUSD stablecoin has grown to be one of the top 10 stablecoins by market cap ($1.59 billion). It has recorded a trading volume of $123.38 million in the past 24 hours and is listed on several high-profile exchanges, including Kraken, Bitstamp and Bullish.
The introduction of Ripple Mint will now streamline corporate access and management of the stablecoin, likely increasing its international footprint and use in high-demand corridors.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
A mantra among long-term investors is to buy when markets are panic selling, and several…
The U.S. stock market may soon never sleep. The Securities and Exchange Commission (SEC) announced…
The TRX price continues to hold one of the strongest long-term uptrends in the crypto…
RIF price grabbed traders' attention after surging more than 70% in a single day, following…
Nowadays, the crypto price action doesn't always tell the full story anymore, and EigenLayer Price…
Brent crude oil price climbed to $100 per barrel, its highest level in 45 days,…
