Ripple Treasury Issues 30 Million RLUSD

Ripple Treasury has issued 30 million Ripple USD (RLUSD) as part of its latest increased issuance of the dollar-pegged token. The total market capitalization of RLUSD as of October 7 is estimated at $2.53 billion, according to CoinGecko data. The recent issuance of RLUSD is part of a series of large transactions. For example, on September 21, the treasury issued 20 million RLUSD, and later that same day added another 20.5 million RLUSD, resulting in a total of 40.5 million RLUSD issued in one day. The following day, September 22, another 19 million RLUSD was issued, bringing the total to 59.5 million RLUSD issued over two days.

In addition to issuance, the treasury is also actively burning tokens. On September 22, 14.9 million RLUSD and 14.95 million RLUSD were destroyed in two transactions, resulting in a total of 29.85 million RLUSD burned. This highlights that the amount of issued tokens is not always a constant increase in circulation, as Ripple regularly conducts both issuance and burning of RLUSD in the process of issuing and redeeming the stablecoin. According to Ripple's documentation, institutional clients can obtain RLUSD by depositing fiat funds. Tokens are issued in response to a fiat deposit. In turn, RLUSD that is redeemed is burned when fiat is returned to clients.

Earlier in September, there was high activity in the issuance of RLUSD. For example, on September 11, 10 million RLUSD was issued in one transaction, and the total number of tokens issued on the XRP Ledger that day was about 21.9 million. On September 1, the amount of tokens issued was significantly higher, totaling approximately 143.1 million RLUSD. The latest issuance of 30 million RLUSD is part of a sequence of larger transactions in the treasury, as Ripple manages the issuance and redemption of RLUSD.