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.
In a video shared by Grayscale, Ripple SVP Jack McDonald outlined the company’s latest institutional strategy. He highlighted the role of both the $XRP Ledger and Ripple USD ($RLUSD) in driving real-world adoption.
Mastercard, JPMorgan, and Ondo Finance Collaboration
During the interview, McDonald, CEO of Standard Custody and Ripple’s Senior Vice President of Stablecoins, said Ripple is focusing on building institutional-grade infrastructure for moving value.
McDonald said Ripple recently announced a collaboration involving Mastercard, JPMorgan, and Ondo Finance. Trades in the initiative will settle on the $XRP Ledger.
“Everything we do at Ripple is built around serving institutions and building institutional-grade infrastructure to help move value,” McDonald said.
He described the collaboration as another step toward connecting traditional finance with blockchain-based settlement.
OKX Expands $RLUSD Support
McDonald also highlighted Ripple’s recent partnership with OKX. He said the exchange now supports $RLUSD across multiple products.
According to McDonald, $RLUSD can be used for spot trading, derivatives trading, and as collateral. This expands the stablecoin’s use beyond payments.
The partnership is part of Ripple’s effort to make $RLUSD available on major crypto exchanges before expanding its enterprise use cases.
$RLUSD Shifts Focus from Growth to Utility
McDonald said $RLUSD has gained strong momentum since launching about 18 months ago. The stablecoin has grown to a market capitalization of roughly $1.6 billion.
However, he said Ripple considers real-world utility more important than market capitalization over the long term.
According to McDonald, Ripple has largely achieved its initial goal of listing $RLUSD on major exchanges. It has also built supporting infrastructure through market makers and custodians.
With that foundation in place, Ripple’s next focus is expanding institutional use cases for $RLUSD. The company also plans to continue using the $XRP Ledger as its settlement infrastructure.
Accelerated $RLUSD Issuance in July
As The Crypto Basic reported earlier this month, Ripple accelerated $RLUSD issuance in early July, minting $291.6 million across the $XRP Ledger (XRPL) and Ethereum in two days. About $225.8 million (77%) was issued on XRPL.
On July 1, Ripple minted $169.8 million in $RLUSD, with nearly all of it on XRPL. The following day, it minted another $121.8 million while burning $68.1 million as it adjusted supply between the two networks.
Across both days, XRPL recorded $225.8 million in mints and $58.1 million in burns, resulting in a net increase of $167.7 million. Ethereum saw $65.8 million in mints and $10.05 million in burns, adding $55.75 million to supply.
