Ripple has executed a $20 million mint of its RLUSD stablecoin, increasing the token's total circulating supply to approximately 1.53 billion. The transaction was confirmed on the Ethereum blockchain on February 19, 2026, originating from a wallet labeled 'Ripple Deployer' and settling within seconds, demonstrating operational readiness.
This measured expansion is part of Ripple's strategy to strengthen its position within the highly competitive and regulated stablecoin market, which is currently dominated by Tether (USDT) with a market cap exceeding $183 billion and USD Coin (USDC) above $74 billion. In contrast, RLUSD remains a mid-tier player, but its supply has seen roughly 10x year-over-year growth.
The new liquidity is expected to improve depth across payment corridors and exchange trading pairs, potentially supporting integrations with decentralized finance (DeFi) platforms on Ethereum. Ripple is positioning RLUSD primarily as regulated financial infrastructure for institutional use cases like cross-border settlement, banking, and custody, rather than targeting retail trading pairs. This aligns with the company's recent regulatory advancements, including securing a UK Electronic Money Institution (EMI) license in early 2026.
Data shows RLUSD's supply is distributed multi-chain, with roughly 77% on Ethereum (serving as the primary liquidity hub) and 23% on the XRP Ledger (XRPL) for ecosystem integration. The token continues to trade close to its $1 peg, with daily trading volume consistently above $100 million.
