Ripple RLUSD stablecoin reached a market capitalization of approximately $2.47 billion as of October 24, 2026, with 2.47 billion tokens in circulation at a $1.00 peg. Issued by Standard Custody & Trust Company under New York Department of Financial Services oversight, the stablecoin launched on December 17, 2024, on the XRP Ledger and Ethereum and is backed 1:1 by cash, cash equivalents and short-term U.S. Treasuries.
Ripple RLUSD stablecoin supply distribution and recent rebalancing
Supply allocation currently stands at roughly 60-61 percent on Ethereum, representing about $1.50 billion, and 39 percent on the XRP Ledger, or roughly $968 million. On October 22 the XRP Ledger portion of RLUSD dipped to around $907 million after Ripple Treasury executed a reallocation that included burning approximately $50.6 million on XRPL while minting an equivalent amount on Ethereum. XRPL stablecoin holdings overall fell below $1 billion and now rank about twelfth globally by total supply.
Monthly third-party attestations continue to verify reserves. The stablecoin crossed the $1 billion threshold in early November 2025, less than one year after launch, and later reached a peak near $2.5 billion in early October 2026 before settling at the current level. These figures come from on-chain data tracked by DefiLlama and related analytics platforms.
Rebalancing activity reflects Ripple’s strategy to match liquidity demand across chains while maintaining the peg. Ethereum continues to host the larger share of volume for DeFi integrations, whereas the XRP Ledger supports faster settlement for cross-border payments.
Institutional partnerships and enterprise use cases
Standard Chartered announced on October 12, 2026, that its Dubai International Financial Centre branch would provide institutional custody for XRPL-issued RLUSD. The bank also plans collateral integration with LMAX Group once final documentation and testing are complete. Cross River Bank completed integration of RLUSD settlement into its core platform for fintech clients during the same month.
Ripple Prime now offers 24/7 trading of real-world assets and perpetual swaps with RLUSD accepted as collateral. Additional partnerships include Arf for XRPL-based lending targeting $10 billion in annual payments volume, DriveWealth for brokerage services, and Transak for on-ramp solutions. In Japan, SBI has facilitated regional distribution since June 2026, while pilots under Singapore’s MAS BLOOM initiative explore Southeast Asian use cases.
These developments align with broader institutional stablecoin adoption. RLUSD is used in Aave lending markets and in treasury management tools acquired by Ripple, including Hidden Road and GTreasury. Enterprises gain access to compliant on-chain settlement that reduces reconciliation costs and supports continuous operations across time zones.
Regulatory framework and forward outlook
Operation under NYDFS supervision and additional licenses provides a compliance baseline that appeals to banks and regulated entities. Ripple continues to pursue infrastructure that supports both payments and decentralized finance applications. Potential milestones ahead include further banking integrations, expanded collateral use, and any outcomes tied to evolving U.S. stablecoin legislation.
Supply distribution between Ethereum and the XRP Ledger may shift again with market demand. Observers tracking stablecoin market cap and institutional stablecoin adoption will monitor on-chain metrics from DefiLlama and RWA.xyz for signs of continued growth or reallocation.
Frequently asked questions
When did Ripple RLUSD stablecoin reach the $1 billion market cap?
RLUSD crossed $1 billion in early November 2025, less than eleven months after its December 2024 launch. It later grew beyond $2 billion in August 2026 and peaked near $2.5 billion in early October 2026.
Where is most RLUSD supply currently held?
As of October 24, 2026, about 60-61 percent of the $2.47 billion supply sits on Ethereum while 39 percent remains on the XRP Ledger. Recent treasury moves shifted some volume between the two chains.
Which institutions now support RLUSD custody or settlement?
Standard Chartered provides custody through its Dubai branch, and Cross River Bank integrated RLUSD settlement into its platform in October 2026. Additional integrations involve LMAX Group and partners such as Arf and DriveWealth.
How is RLUSD backed and attested?
Each token is backed 1:1 by cash, cash equivalents and short-term U.S. Treasuries. Standard Custody & Trust Company publishes monthly attestations under New York Department of Financial Services oversight.
By YasTech Editorial
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