RLUSD Surpasses Circulating Supply by Over $122 Million

Ripple's RLUSD stablecoin saw its reserves surpass circulating supply by $122.5 million, or about 5%, as of September 24th. This milestone marks a significant expansion for the stablecoin, which crossed the $2 billion threshold in late August and has added over $400 million in circulation since then.

According to the RLUSD transparency page, the reserves are held in segregated accounts and consist of U.S. dollars and other highly liquid cash equivalents. The issuer, Standard Custody & Trust Company, is supervised by the New York Department of Financial Services, and Ripple publishes monthly independent CPA attestations covering circulating supply and reserve assets.

RLUSD's expansion into DeFi, tokenized assets, and credit markets, as well as its increasing presence on multiple blockchain environments, demonstrate how the stablecoin is becoming a key component of Ripple's institutional-finance strategy. The stablecoin's distribution between Ethereum and XRPL has also shown a significant shift, with Ethereum holding roughly $1.38 billion compared to about $1.03 billion on XRPL.