Ripple’s RLUSD Supply Hits $2.5B Amid Ledger Growth

The current market valuation of $2.5 billion reflects a steady climb from the $2 billion milestone reported in late August. While RLUSD is issued across multiple blockchains, including Ethereum, the XRP Ledger has seen a notable uptick in activity, with roughly $1.10 billion of the token’s total supply now residing on its home network. DefiLlama data indicates that the broader ecosystem of stablecoins on the ledger remains heavily concentrated in Ripple’s offering, leaving only about $90 million in other dollar-denominated assets.

Standard Custody & Trust Company, a Ripple subsidiary under New York state supervision, manages the issuance of RLUSD. The company maintains reserves in cash and cash equivalents, with BNY serving as the primary custodian. Despite the growing circulation, Ripple maintains that these tokens are not insured bank deposits, placing the onus of redemption rights on the underlying reserve arrangements. As the supply grows, the company continues to position RLUSD as a primary tool for corporate treasury payments and institutional credit funds, distinct from the utility of the network’s native XRP token.