RLUSD Surpasses $2B Mark as XRP Ledger Supply Nears $1B

Ripple's RLUSD stablecoin has reached a significant milestone in its relatively short history. Last week, it crossed US$2 billion in market capitalization, less than two years after its launch in December 2024.

This achievement is notable, especially considering that nearly US$1 billion of the circulating supply had been issued on the XRP Ledger. In fact, about US$963 million of RLUSD was held on the XRP Ledger at the time, while Ethereum held a slightly larger share, with around US$1.05 billion.

RLUSD is backed by cash or permitted cash equivalents held in segregated reserve accounts, issued under supervision from the New York State Department of Financial Services by Standard Custody & Trust Company.