Ripple Launches Institutional Minting Platform for RLUSD as Transfer Volume Declines
RLUSD holder count rises but monthly transfer volume drops to $10.95B, down 25%.
Ripple has introduced an institutional minting platform for its RLUSD stablecoin, aiming to attract larger participants. The move comes alongside RLUSD's integration into Notabene's compliance network, a tool for transaction monitoring and regulatory adherence.
According to data, RLUSD's monthly transfer volume fell to $10.95 billion, a 25% decrease from previous levels. Despite the decline, the number of unique holders of the stablecoin has increased, indicating growing retail interest.
Institutional Focus
The new minting platform allows institutional investors to mint RLUSD directly, bypassing intermediaries. This could streamline access for large-scale users such as treasuries and payment firms.
- Institutional minting platform launched for RLUSD
- Integration with Notabene compliance network
- Holder count rising despite volume drop
The developments signal Ripple's push to expand RLUSD's utility in regulated environments. The stablecoin competes with USDC and USDT in the growing market for dollar-pegged digital assets.