Blockchain company Ripple has launched Ripple Mint, a new platform that allows institutional clients to create, manage and transfer their Ripple USD ($RLUSD) stablecoin on different networks.
According to the company’s statement, Ripple Mint allows institutions to mint and redeem $RLUSDconnect assets across supported blockchain networks and track transactions end-to-end. The platform will be accessible through both a web UI and API integration.
Ripple said the new platform was developed specifically for customers who manage large transactions and need automation, real-time visibility and on-premises systems integration instead of manual processes.
Organizations will be able to integrate $RLUSD transactions directly into their own infrastructure via Ripple Mint. This will automate processes such as treasury management, payments and business operations. Customers who wish to carry out manual transactions can control their activities through the web console.
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Ripple said that existing customers will be able to continue using the platform without any interruption and that security, compliance and operational monitoring tools will be preserved in the new system.
$RLUSD is issued by Standard Custody & Trust Company, which is licensed by the New York Department of Financial Services. Ripple claims that this regulatory framework ensures transparency and trust in the institutional use of the stablecoin.
The company’s statement noted that stablecoins are increasingly used in trading, payment and treasury operations, and that access to $RLUSD should go beyond manual workflows.
$RLUSD has a market capitalization of approximately $1.5 billion. However, the stablecoin’s monthly trading volume declined by almost 25%, from around $14.6 billion to $11 billion.
*This does not constitute investment advice.
