Ripple's regulated dollar stablecoin for institutional settlement.
Live market data
CoinGecko data; may be delayed.
No declared max supply: no FDV is computable, supply follows demand.
100.0% of the achievable supply is already circulating.
$1.07 -6.79% · Dec 26, 2024
Source: CoinGecko, snapshot of Sep 13, 2026. Figures may be delayed.
Source: DefiLlama, data as of · Revenue is not reported by every protocol.. Figures are informational, not financial advice.
RLUSD is Ripple's entry into the regulated stablecoin tier: issued under NYDFS oversight, fully reserve-backed, and aimed at institutional settlement flows on the XRP Ledger and Ethereum. It complements rather than replaces XRP, giving Ripple a stable-dollar instrument for corridors where volatility is unacceptable. Its scale is far below USDT and USDC, and its adoption depends on Ripple's enterprise distribution actually converting.
General research guidance, not analysis specific to this asset. Detail is pending.
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RLUSD is issued by Standard Custody & Trust, a limited-purpose trust company chartered by NYDFS, on Ripple's platform. Users mint by delivering dollars and redeem at par, with reserves held in segregated accounts and monthly third-party attestations published by Ripple; the transparency page reports reserve funds above circulating supply. The token settles natively on the XRP Ledger and Ethereum.
Regulated dollar settlement on XRPL and Ethereum
Bridge asset for Ripple's enterprise payment corridors
RLUSD is a settlement instrument, not an investment: it targets one dollar and reserve yield accrues to Ripple. Its strategic role is to give Ripple a regulated dollar for its enterprise payment corridors, complementing volatile XRP where price stability is a requirement. Evaluating it means tracking attestation quality and adoption in Ripple's institutional flows, not token appreciation.
Supply expands and contracts with institutional mint and redemption activity. Ripple publishes monthly reserve reports; the transparency page showed reserve funds exceeding circulating RLUSD as of September 2026. At roughly two point four billion dollars circulating, it sits in the tier below USDT and USDC.
There is no token governance. Issuance and redemption policy sit with Ripple and its regulated custodian subsidiary under NYDFS supervision, including standard address-freeze capability. The trust decision is institutional: NYDFS charter plus monthly CPA attestations instead of decentralized control.
Adoption hinges on one company's enterprise relationships
Smaller liquidity pool than the top-two stablecoins
Regulatory posture of the parent company colors the token's treatment
They share the XRP Ledger and Ripple as issuer partners, but they are different instruments: XRP is the volatile native asset used for fees and bridging, while RLUSD is a regulated dollar claim. On-chain RLUSD transfers burn a small fee paid in XRP, but the two have no reserve relationship.
Direct mint and redemption at par runs through Ripple's institutional channels and its regulated trust-company issuer, with strict SLAs. Secondary markets on exchanges give everyone else dollar-priced access, typically at prices that track the peg within basis points.
Last verified:
Ripple · ripple.com · primary source
Issuance through NYDFS-chartered Standard Custody, 100% reserve requirement, segregated accounts, monthly CPA attestations, and reported reserve balances as of September 2026.
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