Ripple has minted an additional 10 million RLUSD tokens on July 18, 2025, bringing the total supply of its stablecoin to over $527 million according to Ripple Stablecoin Tracker data. This strategic expansion coincides with the enactment of the GENIUS Act, a landmark U.S. regulatory framework for dollar-backed stablecoins.
The GENIUS Act mandates stablecoin issuers to maintain liquid reserves (U.S. dollars and short-term Treasury bills) and provide regular reserve disclosures. SEC Commissioner Hester Peirce emphasized its significance, stating: "The new law confirms payment stablecoins are not securities and marks a milestone in bringing regulatory clarity to crypto, a prerequisite for market innovation to flourish."
Ripple bolstered institutional credibility by appointing Bank of New York Mellon as primary custodian for RLUSD reserves. This move aligns with regulatory requirements and follows Standard Chartered Bank's projection that the $264 billion stablecoin market could grow to $2 trillion by 2028 under the new framework.
Analysts anticipate the RLUSD expansion will enhance liquidity in Ripple's DeFi ecosystem, potentially increasing XRP transaction volumes. The development mirrors historical patterns where regulatory clarity propelled stablecoins like USDC and USDT, reinforcing broader cryptocurrency adoption.