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Following
RLUSD Ripple minted 30 million RLUSD, and the market value of the stablecin treasury reached US$2.53 billion.
Ripple minted 30 million Ripple USD (RLUSD) in its stablecin treasury through a single transaction, continuing the recent trend of large-scale issuance of RLUSD. RLUSD is a dollar-pegged stablecoin issued by Ripple, a leading blockchain-based payment company committed to promoting rapid and cost-effective global fund transfers.
Large-scale minting and destruction is accelerating
According to the records of Ripple Stablecoin Tracker, the RLUSD treasury continued to increase issuance efforts when the latest minting incident occurred. As of October 7, according to CoinGecko data, the market value of RLUSD was approximately US$2.53 billion.
In addition to the addition of 30 million RLUSD, there have also been a number of major issuance transactions recently. On September 21, the treasury minted 20 million RLUSD, and then another 20.5 million coins were minted the same day. In total, in a single day, the RLUSD treasury issued a total of 40.5 million RLUSD pieces.
During the two-day period from September 21 to 22, total circulation reached 59.5 million RLUSD units. These data highlight the size and frequency of RLUSD minting as Ripple meets demand for its stablecoins in the ecosystem.
Issues and redemptions shape supply mechanisms
Although large-scale minting occurs frequently, significant destruction activities are also taking place simultaneously. On September 22, the RLUSD treasury destroyed 14.9 million and 14.95 million RLUSD respectively in two separate transactions, for a total of 29.85 million tokens were destroyed in a single day.
This destruction activity suggests that an increase in RLUSD casting volume does not always mean a permanent increase in circulating supply. The proactive RLUSD minting and destruction process is a core part of Ripple's stablecoin issuance and redemption mechanism.
Ripple's document states that institutional customers can obtain RLUSD by depositing legal tender, and the number of tokens issued will match those deposits. Similarly, when RLUSD is redeemed, the token is destroyed as the fiat currency is returned to the customer.
This cycle ensures that the circulating supply of RLUSD closely matches the needs of institutional participants, thereby preventing oversupply or excessive liquidity expansion.
Mini Dictionary: RLUSD
RLUSD is the abbreviation of Ripple USD. It is a stablecoin anchored to the US dollar and issued on the Ripple network. The stablecoin is specifically designed for institutional use, provides on-chain clearing and redemption capabilities, and integrates transparency and regulatory compliance measures during its issuance process.
Continued treasury activity reflects institutional needs
September was marked by multiple large RLUSD transactions. On September 11th, 10 million RLUSDs were minted in a single transaction, while the total minted volume on XRP Ledger that day reached 21.9 million coins. The casting volume was even higher at the beginning of the month, with 143.1 million RLUSD issued on September 1.
These ongoing minting and destruction activities highlight Ripple's strategy of dynamically managing the supply of RLUSD in response to capital inflows and outflows from ecosystem participants.
The recent 30 million RLUSD coins form part of an ongoing mass coinage and destruction sequence in which Ripple is managing the issue and redemption cycles of RLUSD.
