TLDR
- Ripple USD minted $35 million worth of RLUSD stablecoins, setting a new record overnight.
- The $35 million mint was tracked by EthereumScan, linking it to a specific address.
- Ripple USD’s RLUSD stablecoin now has a circulating supply of $1.49 billion.
- RLUSD’s daily trading volume surpassed $259.5 million, outpacing other major stablecoins.
- Ripple USD’s strategy includes minting large amounts of RLUSD to support liquidity and institutional transactions.
Ripple USD has hit a new record, with a $35 million minting of RLUSD stablecoins at the treasury. This sudden surge has raised questions about the company’s strategy, especially considering the rise of stablecoin dominance in the market. As of now, RLUSD has achieved a circulating supply of $1.49 billion, cementing its place in the crypto space.
Ripple USD Minting on Ethereum Tracker
Ripple USD’s latest mint of $35 million was recorded through the EthereumScan tracker. This tracked transaction directly linked the mint to an address beginning with “0xfbca8b5f.” The minting event is seen as a strategic move by Ripple, who has launched RLUSD in response to USDC and USDT’s dominance in the market. Ripple has made significant strides in recent months, focusing on building the liquidity and volume of RLUSD in a competitive environment.
💵💵💵💵💵💵💵 35,000,000 #RLUSD minted at RLUSD Treasury.https://t.co/dZdp0oSCYg
— Ripple Stablecoin Tracker (@RL_Tracker) February 3, 2026
The sudden mint raises the question of why this large amount was issued. It could indicate that Ripple is preparing inventory for exchange liquidity, over-the-counter (OTC) settlements, or structured flows. It is also possible that this action is part of a strategy to balance the treasury across multiple venues and meet immediate demand for transfers.
RLUSD Surpasses PayPal’s PYUSD in Volume
The circulating supply of RLUSD has reached $1.49 billion, according to the latest data from CoinMarketCap. While this puts RLUSD in eighth place for total market cap, its daily volume of $259.5 million has been surpassing many larger competitors. This impressive volume has even exceeded PayPal’s PYUSD and other stablecoins like Global Dollar (USDG), showing Ripple’s potential to gain ground in the stablecoin market.
Ripple’s strong position in the stablecoin market is also reflected in its daily trading activity. With such an active presence, RLUSD is pushing into the top ranks in terms of daily volume. The strong growth trajectory of RLUSD shows Ripple’s ability to maintain liquidity and engage in large-scale transactions.
Ripple’s recent minting activity may also point to bigger plans for institutional-grade dollar issuance. With U.S. banks still hesitant about stablecoin adoption, Ripple may be positioning RLUSD as a trusted alternative. The ability to scale RLUSD through ongoing minting events indicates that Ripple is setting itself up for larger institutional transactions, even as the stablecoin market consolidates among a few key players.
Ripple’s treasury strategy, including repeated large mints, showcases the company’s focus on keeping pace with the growing demand for stablecoins.
