Ripple launched Ripple Mint on July 23, 2026, giving eligible institutions a unified interface to mint, redeem, bridge, and manage RLUSD. The stablecoin is issued by Standard Custody & Trust Company, a New York State Department of Financial Services-chartered trust company. As of July 25, RLUSD's market cap sat at roughly $1.59 billion to $1.6 billion, with a similar circulating supply.
What Ripple Mint offers
The platform is designed for institutional customers — treasurers, OTC desks, exchanges, and custodians — not retail users. Core use cases include treasury cash management, settlement between entities, on- and off-ramps into trading venues, and programmable payouts. Ripple Mint provides both a browser dashboard and programmatic APIs with role-based permissions and audit trails.
On-chain volume dip
On-chain transfer volume for RLUSD dropped about 25% month-over-month around the July announcements, from roughly $14.6 billion to $11 billion. The decline coincides with the launch period, though Ripple has not attributed the drop to any specific factor.
Compliance and institutional focus
Ripple announced a strategic investment in Notabene, integrating RLUSD with Notabene Flow for Travel Rule and VASP screening compliance. The move underscores Ripple's focus on regulated institutional use. The onboarding process involves confirming eligibility, completing KYC/KYB, setting up custody and bank rails, integrating the API, and running a test mint/redeem cycle.
Ripple Mint is now live for eligible institutions. No timeline has been given for potential retail access.
