Ripple is doubling down on institutional adoption of its RLUSD stablecoin with two new initiatives despite on-chain data showing monthly transfer volume has dropped by 26%.
While transaction activity has slowed, the stablecoin continues to attract new users and expand across multiple blockchain networks.
On 23 July, Ripple introduced Ripple Mint, a new platform that allows institutional customers to create, redeem, bridge, and track RLUSD through a web dashboard or direct API integration.
Previously, institutions had to coordinate directly with Ripple to mint RLUSD whenever they deposited U.S. dollars. With Ripple Mint, the entire process is automated, allowing businesses to issue and redeem tokens while tracking each transaction from fiat deposits to on-chain settlement.
Alongside the launch, Ripple also announced a strategic investment in Notabene, a compliance platform that processes more than $2 trillion in annualized transaction volume.
The integration places RLUSD within Notabene’s payment network, making it easier for financial institutions to send and receive the stablecoin while meeting global compliance requirements.
Although Ripple continues expanding RLUSD, on-chain data shows that transaction activity has begun to slow down.
The RLUSD stablecoin currently has a market cap of $1.59 billion, although it has declined nearly 5% over the past month.
More importantly, monthly transfer volume has fallen about 26%, dropping from around $14.6 billion to $10.89 billion.
At the same time, network activity is improving in other areas. RLUSD’s monthly active addresses have jumped 68.2 percent to 11,167, while the holder count has increased around six percent over the last month.
On-chain data shows that RLUSD remains distributed across two major blockchain networks, with the XRP Ledger continuing to hold the largest share of the stablecoin’s supply.
Currently, the XRP Ledger accounts for approximately $896.5 million worth of RLUSD, while Ethereum holds around $641.9 million, highlighting XRPL’s growing dominance in the token’s circulation.
Ripple is also expanding RLUSD beyond these two ecosystems. The stablecoin is now available on the XRPL EVM Sidechain, Base, Optimism, Ink, and Unichain, giving institutions greater flexibility to issue, transfer, and use RLUSD across multiple blockchain networks.
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