Ripple’s RLUSD stablecoin saw significant institutional and network activity in early November. On November 2 at 20:43 UTC, Ripple’s RLUSD treasury minted 110,565,832 RLUSD in a single transaction on the XRP Ledger, one of the largest single mints recorded on the network, according to XRPL explorers and the Ripple Stablecoin Tracker.
The mint occurred hours before Binance began restoring customer withdrawals across dozens of assets on November 3, following a $6.3 billion security breach. XRP Ledger withdrawals were among the services reopened. While RLUSD adoption could increase XRPL activity, the reports caution that this does not guarantee an immediate XRP price rally.
In a separate but related development, Standard Chartered announced its RLUSD custody service on October 12, 2026, through its regulated Dubai International Financial Centre branch. The service gives eligible institutional clients access to bank-backed digital asset custody under Dubai Financial Services Authority regulation.
Standard Chartered, Ripple and LMAX Group are also preparing a collateral arrangement for eligible RLUSD holdings. Under the proposed model, Standard Chartered retains custody of the underlying RLUSD, while LMAX receives a mirrored value for eligible collateral holdings. Clients would not need to transfer tokens directly to the trading venue, potentially reducing counterparty risk and improving capital efficiency. The collateral service remains under development pending documentation, testing and jurisdictional approvals.
Attention also focused on Ripple’s scheduled release of 1 billion XRP from escrow. Observers cautioned that the gross release does not mean the full amount entered circulation or reached exchanges. Ripple routinely returns substantial portions of monthly releases to new escrow agreements, and actual market supply depends on subsequent transfers and sales. At the time of writing, XRP was trading near $1.25, though stablecoin custody and XRP trading activity require separate assessment.
