Key takeaways

  • Ripple Mint automates institutional RLUSD issuance and redemption
  • BNY and Cross River expand stablecoin banking integrations
  • Coinbase broadens RLUSD access across trading and payments

Ripple is expanding its institutional stablecoin business as banks and financial technology companies increasingly integrate Ripple USD (RLUSD) into their existing payment, custody and treasury infrastructure.

The strategy centers on Ripple Mint, a platform launched on July 23 that allows institutional customers to mint, redeem and manage RLUSD using web-based controls or direct application programming interfaces (APIs).

Although the API functionality is not new, Ripple's recent partnerships with BNY, Cross River Bank and Coinbase demonstrate how automated stablecoin operations are becoming part of traditional financial services.

How Ripple Mint Automates RLUSD Issuance and Redemption

Ripple Mint allows eligible institutions to create RLUSD by depositing US dollars, with the resulting stablecoins issued after applicable compliance checks.

Customers can also redeem RLUSD for dollars, move tokens across supported blockchains and monitor transactions through a unified interface.

Unlike traditional manual stablecoin workflows, Ripple Mint supports API connections that allow treasury systems to communicate directly with issuance and redemption infrastructure.

The platform also provides webhook notifications covering fiat deposits, token issuance, blockchain settlement and completed payouts.

These features build on Ripple's original enterprise RLUSD platform launch, which introduced automated treasury management for exchanges, fintech companies and institutional customers.

Ripple says its system supports one-to-one minting and redemption without issuer-level fees, although standard banking and payment costs may still apply.

BNY and Cross River Bring RLUSD Into Banking Infrastructure

Ripple's institutional strategy has accelerated through several banking partnerships announced in October.

On October 15, Cross River Bank announced that it was integrating RLUSD on the XRP Ledger into its proprietary core banking infrastructure.

The initiative allows fintech clients to access blockchain-based settlement through a single API connection, potentially connecting stablecoin transfers with conventional banking operations.

Meanwhile, Ripple's expanded BNY partnership introduced institutional custody services for XRP and RLUSD.

The companies also intend to enable eligible BNY clients to mint and redeem RLUSD directly through the bank, although those additional capabilities remain subject to approvals.

BNY's $63.4 trillion in assets under custody or administration represents the bank's overall business, not assets committed to Ripple.

The developments follow Standard Chartered's RLUSD custody launch, which introduced another institutional channel for holding the stablecoin.

Coinbase Expands RLUSD Distribution as Institutional Competition Grows

Ripple also announced an expanded partnership with Coinbase on October 28, making RLUSD available through Coinbase Prime, Coinbase Exchange and its retail application.

The integration supports RLUSD across multiple blockchain networks, including the XRP Ledger, Ethereum and Base.

Combined with its banking partnerships, the move expands distribution beyond Ripple's own infrastructure and gives institutions additional routes to acquire and manage dollar-backed digital assets.

RLUSD previously received investment-grade ratings from Moody's, although the agency also identified legal and redemption-related risks.

The stablecoin's growth also comes as institutions explore RLUSD-backed lending and potential derivatives infrastructure on XRPL.

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Marcus Hale

Marcus Hale is a crypto and financial markets writer covering Bitcoin, Ethereum, digital assets, regulation, ETFs, and institutional adoption. His work focuses on market-moving developments, investor trends, and the broader forces shaping the crypto economy.

https://coinpaper.com/38628/ripple-expands-rlusd-with-api-based-minting-as-banks-accelerate-stablecoin-adoption

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