Ripple Hands Treasury Desks an API to Mint Its RLUSD Stablecoin

Ripple opened Ripple Mint on July 23, a platform that lets institutions create and redeem its Ripple USD stablecoin, or RLUSD, through either a web interface or a direct API connection. Both routes reach the same three functions: minting new tokens, redeeming existing ones and managing holdings. The company said the product is infrastructure, not a retail offering.

The split matters for how desks operate. Teams running automated workflows can wire in through the API and let software handle minting and redemption without anyone clicking through each step. Groups that want eyes on every move can use the web interface to review and approve actions by hand. Ripple said the goal is serving enterprise clients managing digital dollar positions at scale across payments, trading and treasury work.

The numbers around the launch moved fast. RLUSD's market cap climbed by about $100 million around July 23, reaching roughly $1.64 billion. It didn't stay there — the figure later settled near $1.59 billion, down about $50 million from that short-term high. At launch, the stablecoin's market value was close to $1.6 billion, pegged to hold $1.

RLUSD's peak came earlier. On June 1, 2026, its market cap pushed above $1.8 billion for an all-time high, less than two months before Ripple Mint went live. The token has since pulled back from that record and now sits roughly $200 million below it.

The stablecoin launched in December 2024 with an institutional-first focus, though retail holders have since joined in. In under a year it cracked the top 10 US dollar-pegged stablecoins by market capitalization — a mark it hit before Ripple Mint was announced. At the latest data, RLUSD ranks ninth among dollar-pegged stablecoins, holding that spot less than two years after launch. Ripple has also widened its European footing, picking up a MiCA crypto-asset service provider license through Luxembourg that covers 30 countries in the European Economic Area.