Ripple minted 19.6 million additional units of its dollar-pegged stablecoin RLUSD.

On Oct. 13, blockchain outlet U.Today reported that Ripple newly minted 19.6 million RLUSD from an Ethereum-based treasury wallet. Including 19 million previously issued, total recent issuance amounts to 38.6 million units.

Burned tokens included in the same tally exceeded the newly issued amount. A Ripple stablecoin tracker showed 38.6 million RLUSD issued and 50.6 million burned across five transactions. Net burns totaled 12 million units.

Issuance and burns differed by chain. Two minting transactions were carried out from an Ethereum treasury wallet, while all three burn transactions took place on the XRP Ledger (XRPL). The amounts burned on XRPL were 13 million, 18 million and 19.6 million units, respectively. Supply rose on Ethereum, while a larger amount fell on XRPL.

RLUSD's market capitalization is about $2.42 billion, according to CoinGecko. It ranks among the top dollar-pegged stablecoins, and RLUSD's price also continues to hold around $1.

This issuance and burn activity coincided with an expansion of services for institutions. Standard Chartered said on Oct. 12 it officially launched institutional custody services for RLUSD issued on XRPL. The service is provided through its Dubai International Financial Centre (DIFC) branch, regulated by the Dubai Financial Services Authority (DFSA).

Standard Chartered is also reviewing a plan with Ripple and LMAX Group to recognize RLUSD held in bank custody accounts as eligible collateral for LMAX trading. The structure would allow institutional investors to use the tokens as trading collateral without moving them directly to LMAX.

The collateral-use service still requires steps including trial operations, final documentation and regulatory approval. Institutional custody has expanded RLUSD storage services, but additional verification and approval are needed before it can be used as trading collateral.

Recent RLUSD supply flows show large-scale issuance and burns proceeding at the same time. New tokens were minted on Ethereum, but the burn volume on XRPL exceeded that, resulting in a net decline in supply in the transactions confirmed this time. Key points to watch will be whether supply changes by chain continue and whether institutional custody leads to broader actual use, as well as whether the collateral-use plan is commercialised.