Ripple’s USD-backed stablecoin, RLUSD, has opened June on a quiet note after a month of intense minting and burning. According to the RL tracker, zero RLUSD was burned at the close of May, continuing a pattern seen on May 30 when the burn engine also went idle. The last RLUSD burn occurred roughly three days prior, while the day so far has seen $6.2 million freshly minted.
The lull follows explosive activity in May. On May 20 alone, $261 million RLUSD was minted—the largest single-day mint—while $165.1 million was burned the same day. Over the last 30 days, total RLUSD minted reached $304.4 million, but burns outstripped minting at $396.8 million, signaling a net reduction in supply. Despite the pause, RLUSD’s market capitalization remains slightly above $1.7 billion, with total supply standing at $1.704 billion. Of that, $613.27 million resides on the XRP Ledger (up over 80% from $340.3 million at the end of Q1 2026, per Messari), and $1.09 billion is on the Ethereum blockchain.
At the same time, Ripple announced a major milestone: RLUSD is now live in Turkey through partnerships with BiLira, Bitexen, and Bitlo. The launch positions the stablecoin in one of the world’s most active crypto markets, which Ripple says handles nearly $200 billion in annual transaction volume. Jack McDonald, Ripple’s Senior Vice President of Stablecoins, stated, “RLUSD has rapidly gained traction in financial use cases, serving as a vital bridge for payments, tokenization, and collateral management. As enterprise demand scales globally, launching in Turkey represents a milestone in our expansion.”
The Turkish expansion is part of a broader push that has taken RLUSD from its December 2024 debut to a $1.7 billion market cap in under a year. Ripple highlights the country’s evolving regulatory clarity and strong crypto adoption as key draws. The stablecoin is fully backed by U.S. dollar reserves and integrated into Ripple’s institutional products for payments, treasury management, and custody. The company has also partnered with Istanbul Technical University to advance blockchain research and set up an XRPL validator on campus, betting that wider RLUSD adoption will drive more development and liquidity across the XRP Ledger ecosystem.
