Ripple’s dollar-linked stablecoin RLUSD has recently shown a net-burn trend. Business expansion continues despite a slowdown in on-chain activity, including multichain expansion, links with payment networks and securing institutional clients, drawing market attention.

On June 14, blockchain media outlet U.Today reported that a total of $55.9 million worth of RLUSD was burned over the past seven days. New issuance over the same period amounted to $8.8 million. As a result, RLUSD has entered a net-burn phase in June, with burns exceeding issuance.

RLUSD’s on-chain activity was relatively active even in early June. On June 1 alone, about $127.4 million was newly issued and $12 million was burned. Since then, both issuance and burning have fallen quickly, and overall activity has slowed compared with May.

Based on supply and demand indicators alone, market demand for RLUSD could be seen as easing somewhat. But Ripple has recently focused on expanding RLUSD’s range of uses.

Ripple has begun supporting native token transfer functionality for RLUSD through cooperation with cross-chain infrastructure project Wormhole. This enables RLUSD to move across multiple blockchain networks and support uses including cross-border payments, deposits and withdrawals for institutional investors, and tokenised asset trading.

Ripple expects this will make it easier for developers and institutional clients to access compliance-friendly, dollar-based liquidity across multiple blockchain environments.

RLUSD is also expanding its presence in payments. Mastercard recently announced plans to support payments using regulated stablecoins, and RLUSD was included among those supported. Ripple said the cooperation shows expanding demand for digital asset-based payment infrastructure.

Regional expansion is also continuing. Ripple has signed new partnerships with Turkish digital asset firms BiLira, Bitexen and Bitlo and has begun providing RLUSD to local institutional clients.

It also expanded support in education and research. Ripple selected Istanbul Technical University as a new partner for its university blockchain research programme and began supporting research using RLUSD. The cooperation includes advanced blockchain research projects, graduate scholarships and operating an XRP Ledger validator.

The industry assesses that RLUSD is currently showing a net-burn trend in on-chain supply and demand, but is expanding its business footprint.

The key point to watch is whether broader institutional adoption of RLUSD can translate into higher on-chain transaction volumes. In the short term, the net-burn trend is continuing, but some forecasts say RLUSD’s growth could regain momentum if Ripple’s multichain strategy and expansion of its global payment network lead to a rise in demand.