Ripple has unveiled a series of institutional partnerships involving the XRP Ledger (XRPL). The company said collaborations with Mastercard, JPMorgan, Ondo Finance, and OKX are to expand blockchain use across traditional and digital finance.
Ripple has ramped up mint activity around its proprietary stablecoin RLUSD in July, deploying over $200 million on the XRPL within two days. A few days after rebalancing RLUSD supply between the XRP Ledger and Ethereum, the two native networks supporting the stablecoin, Ripple has started increasing issuance more aggressively on the XRP Ledger as July begins.
Ripple has reaffirmed its commitment to multichain payments and institutional blockchain infrastructure by joining Open USD as a day-one integration partner. Ripple President Monica Long said the future of payments will be built on interoperable blockchain networks rather than isolated ecosystems.
A new report from Evernorth says the rapid growth of Ripple USD (RLUSD) on the XRP Ledger has strengthened the network instead of competing with XRP. According to the company, concerns that RLUSD could reduce XRP's role are not supported by on-chain data.
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