Ripple's RLUSD Goes Full DeFi Degenerate: Mints a Nice 69 Million Tokens in Single 'Send It' Move

Ripple just went full degen mode, executing the largest single mint in RLUSD stablecoin history in one glorious, no-regrets transaction. On-chain sleuths spotted a staggering 69 million RLUSD—a number that speaks for itself—magically appearing on the XRP Ledger today.

The freshly minted 69 million tokens appear to be sprinting toward the Gemini exchange, presumably for a liquidity party. This isn't some casual weekend side hustle; the RLUSD Treasury has clearly been mainlining coffee and working overtime like a validator node during an airdrop.

Over the past week, the treasury has been playing a high-stakes game of supply Jenga, balancing the books with multi-million dollar mints and strategic burns across both the XRPL and Ethereum networks. On February 27, they casually conjured 20 million RLUSD on Ethereum. Just two days before that, another 10 million tokens were minted there, because why not?

Meanwhile, RLUSD's market cap has already blasted past the $1.5 billion mark, according to CoinGecko data. The stablecoin has been surfing a massive wave of exchange integrations, institutional handshakes, and supply growth lately, proving that even stablecoins can have a main character moment.

Binance officially listed RLUSD for spot trading in late January, finally letting the degens get their hands on it. Initially available only on Ethereum, Binance completed the technical integration to support RLUSD natively on XRPL in mid-February. The exchange sweetened the deal by announcing an 8.5% APR for RLUSD holders—a respectable yield for simply holding a stablecoin, which in crypto is basically like getting paid to breathe.

In mid-January, the UK-based institutional exchange LMAX Group announced a major multi-year partnership with Ripple, because what's a crypto project without a "multi-year partnership" press release? Integrating RLUSD as a collateral asset is a key part of that deal, giving institutional money a new shiny toy to play with.