Ripple has minted an additional 15 million units of its RLUSD stablecoin on the Ethereum blockchain. As supply adjustments continue between the XRP Ledger (XRPL) and Ethereum, RLUSD’s distribution base appears to be expanding rapidly, with a domestic exchange listing and an expansion of institutional payment networks also under way.

Blockchain media outlet U.Today reported on Tuesday that Ripple minted 15 million new RLUSD on the Ethereum network over the past several hours. As RLUSD supply is rebalanced by chain, changes are also emerging in its distribution structure.

The mint extends supply adjustments over the past 24 hours. Over the same period, 15 million RLUSD were burned on the XRP Ledger, and 10 million were minted on Ethereum a day earlier on July 29. RLUSD Treasury, an account that tracks Ripple stablecoins, also said 15 million RLUSD were newly minted on Ethereum.

Circulating supply by chain is also shifting. Ethereum-based RLUSD circulation has now exceeded $712 million. Over the past seven days, 36.5 million RLUSD were minted and 25.3 million were burned on Ethereum, expanding net supply. On the XRP Ledger, 65.4 million RLUSD were minted over the same period, but 68.7 million were burned, reducing net supply. XRP Ledger-based RLUSD circulation is currently about $873 million.

The market is also watching an expansion of distribution channels alongside the supply increase. Accessibility is rising as major domestic virtual asset exchanges successively support RLUSD trading. Upbit announced the listing of RLUSD on July 28, supported deposits and withdrawals via the XRP Ledger, and opened trading pairs in the won (KRW), bitcoin (BTC) and tether (USDT) markets. Bithumb then began won trading for RLUSD on July 29, while supporting deposits and withdrawals only on the XRP Ledger network.

With both exchanges adopting the XRP Ledger as the deposits and withdrawals network, attention is also focused on how chain-by-chain supply adjustments will connect with actual trading demand.

Expansion into institutional payments is also gaining pace. Ripple recently announced cooperation with payments infrastructure firm Notabene, which has an annualised transaction volume exceeding $2 trillion. The two companies plan to integrate RLUSD into Notabene’s payment platform, Flow, to expand corporate stablecoin payments.

Ripple said it plans to use the cooperation to accelerate adoption of compliant stablecoin payments and lay the groundwork for expanding RLUSD into an institution-led digital asset payments network. The two companies will also review ways to incorporate trust-based payment authorisation functions into Ripple Payments.

RLUSD has recently been widening its scope of use as chain-by-chain mint-and-burn adjustments proceed alongside domestic exchange listings and an expansion of institutional payment networks. The market is watching whether these supply and distribution strategies will lead to broader adoption of RLUSD and growth of its ecosystem.