Ripple has launched Ripple Mint, an institutional-grade platform that consolidates institutional management of the company’s official stablecoin, Ripple USD (RLUSD).
Previously, corporate entities had to conduct their RLUSD-related transactions manually on fragmented platforms. This increased difficulty in organizing and coordinating their crypto activities. Ripple Mint solves all this by presenting itself as a unified central management hub from which users can access, mint, and redeem RLUSD into fiat currency.
Ripple Mint unifies corporate RLUSD transactions
The software enables users to transact the stablecoin across multiple chains, including the XRP Ledger (XRPL), Ethereum, and prominent Layer-2 scaling networks such as Base and Optimism. It features programmatic webhook notifications and unified reference IDs to track transactions at its various stages: fiat receipt, token minting, on-chain settlement, and payment completion.
Institutions can access Ripple Mint via its official dashboard or connect it to their software using application programming interfaces (APIs). The console will serve a wide array of organizations, including crypto exchanges, market makers, payment providers, and fintech companies.
As Ripple notes, RLUSD operations on Ripple Mint are backed by standard compliance. The stablecoin is issued by the Standard Custody & Trust Company, a heavily regulated, institutional-grade financial services company. Additionally, RLUSD is regulated under the New York State Department of Financial Services (NYDFS).
Additional achievements
Launched nearly two years ago, the RLUSD stablecoin has grown to be one of the top 10 stablecoins by market cap ($1.59 billion). It has recorded a trading volume of $123.38 million in the past 24 hours and is listed on several high-profile exchanges, including Kraken, Bitstamp and Bullish.
The introduction of Ripple Mint will now streamline corporate access and management of the stablecoin, likely increasing its international footprint and use in high-demand corridors.
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