Ripple is opening a new front in the institutional stablecoin race just as usage data for its RLUSD token softens. The company introduced Ripple Mint, a platform that lets institutional clients mint, redeem, bridge, and track RLUSD through a web interface or API. According to a report from WuBlockchain, existing customers also gain monitoring and automation tools. The launch lands at a delicate moment. RLUSD holds a market capitalization of roughly $1.5 billion, but its monthly transfer volume dropped about 25% from $14.6 billion to $11 billion.