Ripple launches Mint platform and invests in Notabene to boost RLUSD amid 25% drop in transfer volume

Ripple has introduced two initiatives to enhance its dollar-backed stablecoin, RLUSD, as transfer volume decreased by 25% this month. The first initiative is Ripple Mint, a platform allowing institutional clients to create, redeem, bridge, and track RLUSD via a web dashboard or direct integration. This automates the minting process, previously requiring manual arrangements with Ripple. The second initiative expands RLUSD's reach beyond the XRP Ledger and Ethereum to networks like Base, Optimism, Ink, and Unichain. Additionally, Ripple announced a strategic investment in Notabene, integrating RLUSD into its business-payments platform, facilitating institutional transactions. Despite RLUSD's market value of approximately 1.5 billion dollars, its supply is almost evenly split between the XRP Ledger (about 877 million dollars) and Ethereum (around 643 million dollars). While the number of RLUSD holders and active addresses has increased by 6% and 70% respectively, its market cap has declined nearly 5% in the past month, with transfer volume dropping from 14.6 billion dollars to 11 billion dollars. This indicates a trend of accumulating holders while transaction activity decreases, positioning RLUSD more as an asset to own rather than a medium for transactions. RLUSD is issued by Standard Custody & Trust, which holds a limited-purpose trust charter from New York's financial regulator.