Ripple has launched Ripple Mint and invested in compliance firm Notabene as it works to expand institutional use of Ripple USD.
Summary
- Ripple Mint gives institutions tools to mint, redeem, bridge and monitor RLUSD across supported networks.
- Notabene will add RLUSD to its compliance network serving institutions across more than 100 jurisdictions.
- RLUSD holder growth continued, but monthly transfer volume fell 25% to about $10.95 billion overall.
The two updates address different parts of the stablecoin process. Ripple Mint gives approved customers a direct way to issue, redeem, bridge and track RLUSD. The Notabene deal places the token inside a business payment network built for regulated firms.
The releases came during a mixed month for RLUSD. A July 24 market snapshot placed monthly transfer volume near $10.95 billion, down about 25% from $14.6 billion. Holder numbers rose 6%, while active addresses increased 70%. Market value fell almost 5% during the same period. The figures show broader wallet participation but lower total value moving through the token.
Ripple Mint automates institutional stablecoin operations
Ripple Mint replaces more manual RLUSD workflows with a web console, application programming interfaces and webhook alerts. Existing institutional customers can mint and redeem RLUSD, check account balances and follow each transaction from fiat receipt to onchain settlement. Ripple also uses shared reference IDs to connect each stage, which can make internal tracking and reconciliation easier.
The platform supports fiat settlement and transfers across supported blockchains. Ripple said customers can connect Mint to their own systems instead of relying only on staff using a dashboard. The company framed the product for exchanges, market makers, fintech firms and other institutions that need repeated stablecoin operations. Ripple Mint is available to existing RLUSD customers, while Ripple has not published pricing or wider access terms.
Notabene adds a compliance route for RLUSD payments
Ripple also made an undisclosed strategic investment in Notabene. The companies plan to add RLUSD to Notabene Flow, a platform for business stablecoin payments. They will also study how Notabene’s payment authorization tools can work with Ripple Payments. Notabene says its network connects more than 2,300 institutions across over 100 jurisdictions and processes more than $2 trillion in annualized transaction volume.
Notabene Flow focuses on identity checks, counterparty information and transaction approval before funds move. That process can help financial firms apply Travel Rule and internal compliance controls to stablecoin payments. Ripple stablecoin executive Jack McDonald said, “Institutional adoption depends on more than efficient settlement rails alone.” Financial terms were not disclosed, and neither company named the first institutions expected to use RLUSD through Notabene Flow.
RLUSD expands across more blockchain networks
Ripple has also widened RLUSD access beyond the XRP Ledger and Ethereum. Through Wormhole’s Native Token Transfers framework, the stablecoin now connects to the XRPL EVM sidechain, Base, Optimism, Ink and Unichain, with access spanning more than 40 supported networks. The setup is designed to move native RLUSD between chains without creating separate wrapped versions.
As crypto.news reported in June, the multichain rollout targets exchanges, payment applications and decentralized finance services. Ripple said XRP and RLUSD can serve different roles across those markets, including settlement, swaps, collateral and liquidity. However, activity on each network will depend on available integrations, market makers and user demand rather than technical access alone.
Usage data remains mixed despite wider access
RLUSD remains one of the larger regulated dollar stablecoins. Ripple’s reserve page reported $1.51 billion in circulating RLUSD and $1.62 billion in reserve funds as of July 16. Standard Custody & Trust Company issues the token under a New York Department of Financial Services limited-purpose trust charter. Ripple says cash, cash equivalents and U.S. Treasuries back RLUSD, with monthly independent attestations.
Related activity on the XRP Ledger has continued to grow. As previously reported, Ripple-backed Evernorth said RLUSD pairs had generated more than $2.5 billion in XRP Ledger trading since launch, including about $900 million through the RLUSD/XRP pair over six months. Ripple and SBI also launched RLUSD in Japan in June after local approval, adding another regulated distribution channel.
Still, the July transfer decline shows that supply and wallet growth do not always produce higher payment use. Stablecoin transfer volume can change with exchange flows, treasury movements, market-maker activity and large institutional transactions. Rolling 30-day figures can also move quickly as older transactions leave the calculation window.
Ripple Mint may reduce the work needed to create and redeem RLUSD, while Notabene may give more institutions a compliant route to send it. The next measure will be whether those tools produce sustained payment and settlement volume. Ripple has not released volume targets, customer forecasts or a schedule for publishing adoption data tied to either launch.
