Ripple has launched Mint, a new platform designed to simplify how institutional clients access and manage RLUSD, the company's dollar-pegged stablecoin. The move comes as RLUSD's circulating supply pushes toward a $1.6 billion market capitalization, signaling growing demand from professional market participants for regulated, transparent stablecoin infrastructure.

Mint operates as a direct issuance and redemption portal, allowing approved institutions to convert fiat into RLUSD and vice versa without relying on secondary market liquidity. According to Ripple, the platform integrates compliance checks, know-your-customer workflows, and real-time settlement , features intended to meet the operational standards of banks, payment providers, and asset managers.

The stablecoin itself launched in December 2024 on both the XRP Ledger and Ethereum, issued under a New York Trust Company charter. Since then, RLUSD has been listed across multiple exchanges and integrated into several DeFi protocols, but institutional onboarding has largely occurred through over-the-counter desks and market makers. Mint aims to remove that intermediary layer.

Institutions need predictable, compliant rails for stablecoin operations," said a Ripple spokesperson. "Mint gives them a direct line to issuance and redemption with the transparency and regulatory clarity they require." The company did not disclose which institutions have already been onboarded, though it confirmed that several pilot participants have completed test transactions.

The launch arrives amid intensifying competition in the regulated stablecoin space. Circle's USDC and Paxos-issued tokens have long dominated institutional flows, while newer entrants , including Figure's YLUSD and PayPal's PYUSD , are vying for similar market share. Ripple's differentiation rests on dual-ledger deployment and its existing relationships with financial institutions through RippleNet.