XRP Ledger Expands Beyond Payments with Stablecoins and Credit

The XRP Ledger is evolving beyond its original purpose of moving value quickly. Three key developments illustrate this shift: RLUSD, FXRP, and Lending on the XRP Ledger.

RLUSD has grown to roughly $2.4 billion in circulation, backed by about $2.52 billion in reserve assets as of September 3. This stablecoin allows institutions to hold and settle a token with a stable dollar value, reducing exposure to XRP price volatility.

FXRP, on the other hand, extends the idea of programmable XRP without moving the backing XRP off XRPL. Flare's one-year update shows approximately 145.2 million FXRP has been minted, with 130 million deployed across DeFi and around 21 million already moving onto other chains.

The Lending Protocol is being expanded through the latest xrpld release, introducing fixed-term, uncollateralized lending funded through Single Asset Vaults, with borrower underwriting handled offchain. This development brings credit directly onto XRPL.