RLUSD circulating supply approaches $2.5 billion as XRPL stablecoins rise 6% in a week

Ripple’s dollar‑pegged stablecoin RLUSD has reached a circulating supply of roughly 2.49 billion tokens, giving the token a market value close to $2.5 billion. The increase reflects more tokens in circulation rather than a price change, as RLUSD continues to trade near its $1 peg.

XRPL stablecoin ecosystem expands

Data from DefiLlama shows the total value of stablecoins on the XRP Ledger (XRPL) at about $1.19 billion, up about 6% over the last seven days and 11% over the past 30 days. RLUSD accounts for more than 92% of that total, with roughly $1.10 billion of its supply residing on XRPL. The remaining stablecoins on the ledger amount to roughly $90 million.

Supply growth across networks

RLUSD is issued on multiple blockchains, including XRPL and Ethereum. While about $1.10 billion of the token is on XRPL, the rest of the 2.49 billion circulating tokens are held on other supported networks. This broader issuance explains why the token’s total circulating supply exceeds the amount tracked on XRPL alone.

Institutional issuance and redemption

Ripple offers the Ripple Mint service, launched in July, which lets eligible institutional clients create and redeem RLUSD via an API. The service is positioned for corporate treasury payments and other financial use cases.

Regulatory oversight

In the United States, RLUSD is issued by Standard Custody & Trust Company, a Ripple subsidiary chartered by the New York State Department of Financial Services. The token is backed by cash and cash equivalents held in segregated reserve accounts, with monthly third‑party attestations published by Ripple. BNY serves as the primary custodian for these reserves.

Implications for XRP holders

While RLUSD activity can increase overall ledger usage, holders of XRP are not required to purchase XRP to obtain RLUSD. XRP continues to function as the native token for transaction fees on the ledger, separate from the stablecoin’s dollar‑denominated value.