Ripple RLUSD Mint/Burn
Bank-grade stablecoin — NYDFS-regulated, OCC conditional charter, BNY Mellon custody, zero-idle-supply model.
CTR (USD 10,000+)TRAVEL-RULE (USD 3,000+)ENHANCED-DUE-DILIGENCE (USD 50,000+)
Step 1 · Institutional KYB OnboardingPolicy-EnforcedBlockchain-Native
Enhanced due diligence (EDD) for institutional banking relationships — NYDFS-grade KYB gating.
Institutional counterparty undergoes NYDFS-aligned KYB via Ripple's partner network. RLUSD is not retail-accessible; mint access is gated to approved institutions only. Identity (D1) and licensing (D8) gates are enforced at onboarding. Standard Custody & Trust Company (Ripple's trust subsidiary) operates under NYDFS BitLicense and a limited purpose trust charter — among the highest US regulatory bars for stablecoin issuance.
Step 2 · Reserve Verification & AttestationPolicy-EnforcedBlockchain-Native
Attestation by an independent accounting firm — prudential reserve confirmation before issuance.
RLUSD reserves are 100% cash and cash equivalents (T-bills and bank deposits), custodied at BNY Mellon. Zero-idle-supply model: every token minted maps to a specific deposit from an approved institutional counterparty. Monthly independent attestation confirms the 1:1 backing. This is the prudential checkpoint — D8 (licensing) and D9 (capital/reserve requirements) fire. NYDFS oversight is continuous.
Step 3 · Dual-Chain Mint (Ethereum / XRP Ledger)Code-EnforcedBlockchain-Native
Fiat-to-blockchain boundary crossing — reserve-backed value transitions onto chain per institutional preference.
Minted on Ethereum (ERC-20) or XRP Ledger (issued currency) per counterparty preference. Demand-driven — no speculative pre-minting. L4 Account (institutional balance), L3 Execution (mint contract/ledger operation), and L2 Consensus (block/ledger inclusion) light up. Money transmission licensing (D8) and consumer protection (D14) domains active. Ripple's dual-chain architecture reflects institutional optionality: traditional payment corridors prefer XRP Ledger; DeFi integrations prefer Ethereum.
Step 4 · Institutional RLUSD WalletPolicy-EnforcedBlockchain-Native
Updated institutional digital-asset balance — RLUSD received and immediately available for settlement.
Newly minted RLUSD arrives in the institutional wallet on the chosen chain (Ethereum or XRP Ledger). L4 Account and L5 Application lit. Recordkeeping (D11) and tax reporting (D12) obligations fire. The counterparty now holds RLUSD — a dollar-denominated stablecoin with NYDFS regulatory clarity, transparent reserves, and monthly independent attestation. Designed for GENIUS Act compliance.
Resolved 4 steps across 1 chain(s). 3 threshold(s) triggered. Frameworks: Bank Secrecy Act, GENIUS Act, OFAC Sanctions Program, FATF Recommendation 16 (Travel Rule), Common Reporting Standard / FATCA.