TLDR
- Ripple burned 15 million RLUSD, worth about $15 million, by sending the tokens to an Ethereum null address.
- The burn followed several large RLUSD treasury transactions, including fresh minting and redemption activity in early September.
- Ripple minted 18 million RLUSD on Sept. 7, after issuing 20 million and 16 million tokens on Sept. 4 and Sept. 3.
- RLUSD market capitalization reached about $2.42 billion on Sept. 10, up from roughly $1.76 billion on Aug. 18.
- Ripple continues expanding RLUSD across institutional payments, lending, tokenization, and collateral-focused financial products.
Ripple burned 15 million Ripple USD tokens on Sept. 10 as the company continued large treasury transactions tied to its stablecoin. Blockchain data showed the tokens moved from the RLUSD Treasury to an Ethereum null address, permanently removing them from circulation. The transaction was worth about $15 million and was confirmed on Ethereum.
The activity comes as RLUSD supply continues expanding despite routine redemptions. Ripple launched the dollar-backed token for payment and institutional markets, where minting and burning can shift quickly with demand. Recent transactions show that treasury activity can include both large removals and new issuance in short periods, making circulating supply a moving figure rather than a fixed measure of overall demand.
Ripple RLUSD Sees Frequent Treasury Activity
The latest Ripple RLUSD burn followed several large minting and redemption transactions during early September. On Sept. 8, the Ripple Stablecoin Tracker recorded a separate burn of 10 million RLUSD. Ripple then minted about 14.39 million tokens shortly afterward.
🔥🔥🔥🔥🔥🔥🔥 15,000,000 $RLUSD burned at RLUSD Treasury.https://t.co/2SJzX9upNZ
— Ripple Stablecoin Tracker (@RL_Tracker) September 10, 2026
The company also minted 18 million RLUSD on Sept. 7. Earlier transactions included 20 million tokens minted on Sept. 4 and another 16 million on Sept. 3. These transfers show continued movement between issuance and redemption as customers use the stablecoin.
Stablecoin burns often occur when customers redeem tokens for their underlying value. Issuers then destroy redeemed tokens to keep circulating supply aligned with reserves and market demand. Large burns therefore do not automatically point to weaker demand or financial stress.
Ripple issues and redeems RLUSD in response to customer activity, including institutional transactions. The recent 15 million token burn represents a small share of total supply. CoinGecko data placed RLUSD market capitalization near $2.42 billion on Sept. 10, up from about $1.76 billion on Aug. 18.
RLUSD Expands Across Institutional Markets
RLUSD has grown quickly while Ripple adds more institutional uses for the stablecoin. Its rising market value places it closer to PayPal USD, another dollar-backed stablecoin used across crypto and payment markets. Continued growth could narrow the gap between the two assets.
Ripple has also linked RLUSD to projects involving payments, tokenization, lending and collateral. In August, Ripple backed an institutional credit fund developed with Clearpool and Cicada Partners. The project plans to operate on the XRP Ledger and use blockchain-based financial tools. Ripple continues positioning RLUSD for regulated financial activity across digital asset markets.