What to Know
Ripple minted 38.6 million RLUSD tokens across two Ethereum transactions, reflecting substantial treasury activity involving its dollar pegged stablecoin issuance.
Three separate RLUSD burns totaling 50.6 million tokens on the XRP Ledger resulted in a net reduction of 12 million.
Standard Chartered launched institutional RLUSD custody in Dubai, while proposed trading collateral arrangements with Ripple and LMAX await regulatory approval.
Ripple minted 38.6 million RLUSD tokens across two Ethereum transactions, while separate burns removed 50.6 million tokens from the XRP Ledger. According to Ripple Stablecoin Tracker, the transactions resulted in a net burn of 12 million RLUSD across both networks.
The minting activity involved two transactions worth 19.6 million and 19 million RLUSD, representing approximately $38.6 million in total issuance. Both transactions occurred through the RLUSD Treasury on Ethereum, reflecting substantial stablecoin activity across Ripple’s supported blockchain networks.
Meanwhile, treasury records identified three separate token burns involving 13 million, 18 million, and 19.6 million RLUSD on the XRP Ledger. Together, these transactions removed 50.6 million tokens, exceeding the combined Ethereum minting volume by 12 million RLUSD.
Notably, the five transactions involved different blockchain networks, with Ethereum recording new issuances while the XRP Ledger handled token removals. This distribution highlights the treasury’s activity across both networks, although the reported transactions produced an overall reduction in tokens. Despite these movements, RLUSD maintained its dollar peg, with CoinGecko placing the stablecoin’s market capitalization near $2.42 billion.
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Standard Chartered Expands RLUSD Custody as Institutional Collateral Plans Develop
Ripple’s treasury transactions coincided with Standard Chartered’s introduction of institutional custody services for RLUSD on the XRP Ledger. On October 12, the British banking institution announced the availability of RLUSD custody through its Dubai International Financial Centre branch. The branch operates under Dubai Financial Services Authority regulation, providing institutional clients with access to regulated stablecoin custody services.
Additionally, Standard Chartered is collaborating with Ripple and LMAX Group on plans to introduce RLUSD as eligible institutional trading collateral. The proposed arrangement would allow institutions to use RLUSD held in Standard Chartered custody to support trading activities on LMAX.
Under this structure, institutions could maintain their RLUSD holdings with Standard Chartered without transferring the tokens directly to the trading platform. Nevertheless, the proposed collateral service requires further testing, final documentation, and regulatory approval before becoming operational.
The custody launch expands institutional access to RLUSD, while the proposed collateral arrangement remains under development. Overall, Ripple’s five treasury transactions produced a net burn of 12 million RLUSD alongside Standard Chartered’s expansion into institutional custody.
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