Ripple’s RLUSD stablecoin is getting a major product update with the launch of Ripple Mint.
Institutions are now able to get direct minting, bridging, and redemption orders from Ripple via the latest stablecoin service, which helps corporates save on time and manage better liquidity.
According to the announcement, the company is adopting a new strategy to distribute and grow the RLUSD stablecoin, specifically by doubling down on direct relationships with top institutional clients.
Previously, there was emphasis on partnering with popular exchanges like Binance to build up volume and trading pairs with other major digital assets. The updated stablecoin API enables the RLUSD stablecoin to be used for payments, collateral and trading, treasury management, and invoicing.
RLUSD was originally issued across 2 blockchain networks: Ethereum and XRP Ledger – current supply is at $1.59B per DefiLlama metrics.
With this announcement, the team at Ripple reveals that RLUSD will also be launching on Base, Optimism, and a few others.
Ripple Strengthens Stablecoin Investments
Aside from continuing to focus on scaling its RLUSD stablecoin, Ripple is taking its successful M&A strategy over the last 24 months and applying it to growing stablecoin payment companies.
Head of Stablecoins and SVP Jack McDonald had unveiled that the company is investing into Notabene, which is an onchain platform for ensuring global stablecoin payments meet compliance.
As per the official statement from Notabene, the investment also brings a closer partnership with Ripple Payments to integrate flows of Ripple’s RLUSD stablecoin for B2B payment use-cases.
Ripple also recently invested into Flutterwave to grow its presence across Africa.
Overall, this is not too dissimilar from other stablecoin issuers diversifying their balance sheet, including Tether’s strategic support for companies building in the LATAM market.
