No RLUSD Minted in Day as $27 Million Tokens Disappear From Supply
Ripple USD ($RLUSD) stablecoin has seen $0 minted so far on June 4 despite $27.5 million tokens removed from circulation.
$RLUSD activity continues in June after the month began with significant minting activity. $127.4 million was minted alone on June's first day with $12 million burned.
However, this figure dropped in the days that followed with $3.7 million and $16.8 million burned on June 2 and 3, respectively.
There is a possibility that a minting transaction might occur as the day progresses, but a similar trend in May lessens this probability.
On May 3 and 4, $0 $RLUSD was minted while over $17 million tokens were burned. Whether this is a coincidence or a deliberate trend wherein Ripple briefly pauses minting activity to strategize for the month remains unknown.
Demand for $RLUSD grows
On Wednesday, Mastercard announced it was supporting settlement with Ripple's $RLUSD across a range of supported blockchain networks including Arbitrum, Coinbase's Base, Canton Network's Canton, Ethereum, Polygon, Solana, Tempo and XRPL.
The announcement revealed plans by the payment giant to expand settlement capabilities to include stablecoin, intraday, holiday, and weekend options, giving partners more choice in how and when transactions are settled. This provides the option to settle in fiat or regulated stablecoins and improve liquidity management for time-sensitive, cross-border flows.
Ripple reacted to this milestone, highlighting that the demand for modern, always-on settlement infrastructure continues to grow. It noted that Mastercard's support for $RLUSD and the $XRP Ledger reflects growing demand for trusted digital assets and blockchain infrastructure that can power faster, more flexible settlement.
Jack McDonald, SVP of Stablecoins at Ripple, described it as another major milestone for the adoption of stablecoins in mainstream payments.
The Ripple USD stablecoin marked a milestone this week, now available to institutions in Turkey through new partnerships with BiLira Kripto, Bitexen and Bitlo.