Ripple Mints 19.6M RLUSD Amid Treasury Activity, Standard Chartered Enables Institutional Custody Ripple has minted 19.6 million RLUSD on Ethereum, coinciding with Standard Chartered's announcement of institutional custody for RLUSD issued on the XRP Ledger. The stablecoin remains pegged to $1 with a market cap of $2.42 billion, while Standard Chartered explores using RLUSD as trading collateral in partnership with Ripple and LMAX Group. Ripple has minted another 19.6 million RLUSD on Ethereum amid heightened treasury activity, with the latest transactions coinciding with a major institutional custody breakthrough. There has been another large minting of Ripple USD (RLUSD) stablecoin, pegged to the U.S. dollar, as treasury activities increase with institutional uptake. As per the Ripple Stablecoin Tracker, another 19.6 million RLUSD tokens, which is equivalent to $19.6 million, have been minted on the RLUSD Treasury Ethereum. However, a number of RLUSD burns have also occurred on the treasury. Three separate burns of 13 million, 18 million, and 19.6 million RLUSD tokens have been identified, the tracker said. A total of five transactions were reported.RLUSD Net Burn Details On Ethereum And XRP LedgerIn the five transactions, a total of 38.6 million RLUSD was minted, and 50.6 million RLUSD was burned, with a net burn of 12 million tokens. It is worth noting that the burns happened on the XRP Ledger, while the two mints happened on Ethereum. Currently, RLUSD has a market cap of around $2.42 billion, as per CoinGecko, making it one of the largest stablecoins pegged to the U.S. dollar. Its value continues to hover around the $1 peg.The recent minting news comes after British banking giant Standard Chartered released some big news around RLUSD. Institutional custody for RLUSD issued on the XRP Ledger is now live and accessible via Standard Chartered's branch in the Dubai International Financial Centre, which is regulated by the Dubai Financial Services Authority, the bank announced. It gets even more promising as Standard Chartered is also partnering with Ripple and LMAX Group to use RLUSD as eligible trading collateral.In the potential partnership, the intention is for RLUSD held in Standard Chartered custody to be used as collateral for institutional investor trading on LMAX without directly moving the RLUSD tokens to LMAX for trading. However, the collateral use has not been introduced yet and will be subject to testing, final documentation, and regulatory approval. A7 to unveil a service that will re-invent the international payments market.