Fintech firm Ripple made two moves on Thursday aimed at growing its dollar-backed stablecoin, RLUSD, in a month when transfer volume across the token has dropped by 25%.
The first is Ripple Minta platform that lets institutional customers create, redeem, bridge and track RLUSD through a web dashboard or direct integration.
Until now, minting RLUSD — the process of issuing new tokens when a customer deposits dollars — generally meant arranging it directly with Ripple and waiting on a manual issuance process. The APIs let a firm trigger minting and redemption automatically from its own systems and track each transaction from dollar transfer to onchain settlement.
Ripple has also been extending RLUSD beyond the XRP Ledger and Ethereum onto the XRPL EVM sidechain, Base, Optimism, Ink and Unichain, widening the number of networks where the token can circulate.
Separately, Ripple announced late Thursday a strategic investment in Notabene. This compliance network places RLUSD inside its business-payments platform, putting the token in front of institutions positioned to send and receive it.
So, while Mint is designed to make RLUSD simple to create and manage, Notabene is built to get it moving through institutional payment rails.
GIPHY App Key not set. Please check settings