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Deployments · platform by Ripple

Ripple USD (RLUSD)Updated 7 Nov 2026

Ripple's dollar stablecoin, issued through a New York DFS-chartered limited purpose trust company and launched in December 2024 on the XRP Ledger and Ethereum, later also on several Ethereum layer-2 networks. BNY has held the reserves since July 2025 and an independent accountant attests to them monthly. Ripple says it is integrated into Ripple Payments in some markets. About $2.4 billion was outstanding in October 2026, split roughly evenly between Ethereum and the XRP Ledger.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (scaled) since Dec 2024[4] · Reviewed 13d ago

Assets
Stablecoin[3]
US dollar stablecoin backed by dollar deposits, short-term Treasuries and cash equivalents
Networks
Ethereum Public, permissionless[6]
XRP Ledger Public, permissionless[6]
Base Public, permissionless[3]
Optimism Public, permissionless[3]
Ink Public, permissionless[3]
Unichain Public, permissionless[2]
Ripple's RLUSD page also lists both among RLUSD's seven networks.
XRPL EVM Sidechain Public, permissioned[2]
Ripple's RLUSD page also lists both among RLUSD's seven networks.
Use cases
Primary issuance[6]Cross-border payments[3]
Jurisdictions
United States, New York

Participants

Operates under

Likely relevant regulation

Assets

Moves across networks

  • viaWormholeBase ↔ Optimism ↔ Ink ↔ Ethereum ↔ Unichain ↔ XRPL EVM Sidechain[10][1]RLUSD moves between Ethereum and its L2 and sidechain deployments with Wormhole Native Token Transfers (burn-and-mint); announced as testing in December 2025. XRPL EVM docs (Aug 2026) show the XRPL EVM deployment peered with Ethereum, Base, Optimism and Unichain.

Metrics

  • ~$2.45bnTokens in circulation · as of 11 Oct 2026[6]
    On-chain via DefiLlama; sum of its per-chain balances.
  • ~$1.3bnTokens in circulation · as of 11 Oct 2026 · on Ethereum[6]
    On-chain via DefiLlama.
  • ~$1.14bnTokens in circulation · as of 11 Oct 2026 · on XRP Ledger[6]
    On-chain via DefiLlama.
  • ~$200m / dayDaily transaction value · as of Jan 2026context[11]
    Ripple's stablecoin head Jack McDonald (via CoinDesk, reported by CoinCentral): about USD 200m a day at the start of 2026. Not split by use and likely all on-chain transfers, so context.
  • ~$750m / dayDaily transaction value · as of Aug 2026context[11]
    Same remarks: roughly USD 750m a day 'last month' (article of 13 Sep 2026, so August). Context: executive remark, measure undefined.
  • ~$2.69bnSupply on chain (daily) · as of 7 Nov 2026[13]
    Automated daily reading of on-chain supply across all chains.
  • ~$143Supply on chain (daily) · as of 7 Nov 2026 · on Optimism[13]
    Automated daily reading.
  • ~$1.79bnSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[13]
    Automated daily reading.
  • ~$139Supply on chain (daily) · as of 7 Nov 2026 · on Ink[13]
    Automated daily reading.
  • ~$884.32mSupply on chain (daily) · as of 7 Nov 2026 · on XRP Ledger[13]
    Automated daily reading.
  • ~$16.1mSupply on chain (daily) · as of 7 Nov 2026 · on Base[13]
    Automated daily reading.

Timeline

  1. Happened 12 Oct 2026 · Participant joined · recorded 13 Oct 2026
    Standard Chartered launches institutional custody of RLUSD on the XRP Ledger through its DIFC branch.[9]
  2. Happened 12 Dec 2025 · Regulatory approval · recorded 11 Oct 2026
    The OCC conditionally approves Ripple National Trust Bank.[5]
  3. Happened Jul 2025 (month only) · Participant joined · recorded 11 Oct 2026
    BNY becomes primary custodian of RLUSD reserves.[3]
  4. Happened 10 Dec 2024 · Regulatory approval · recorded 11 Oct 2026
    Ripple says NYDFS has approved RLUSD, with launch listings on Uphold, Bitstamp, Bitso, MoonPay, Bullish and others.[4]

Sources

  1. [1]Wormhole Supported Tokens — XRPL EVM. Accessed 14 Oct 2026. RLUSD on XRPL EVM via Wormhole NTT (burn-and-mint), peered with Ethereum, Base, Optimism and Unichain; registry as of August 2026..B
  2. [2]RLUSD token addresses — Ripple. Accessed 14 Oct 2026. Lists XRPL, Ethereum, and one proxy address shared by Base, Ink, Optimism, Unichain and the XRPL EVM Sidechain..B
  3. [3]Ripple USD (RLUSD) — Ripple. Accessed 14 Oct 2026.B
  4. [4]Ripple wins NYDFS approval for stablecoin launch — Finextra, 10 Dec 2024. Accessed 11 Oct 2026.C
  5. [5]OCC conditionally approves 5 crypto firms for national trust bank charters — Axios, 12 Dec 2025. Accessed 11 Oct 2026.C
  6. [6]RLUSD stablecoin data (API) — DefiLlama, 11 Oct 2026. Accessed 11 Oct 2026.A
  7. [7]Virtual currency businesses: regulated entities — NYDFS. Accessed 12 Oct 2026.A
  8. [8]LMAX Digital lists Ripple USD — LMAX Digital, 19 Mar 2025. Accessed 13 Oct 2026.B
  9. [9]LMAX Group, Ripple and Standard Chartered plan RLUSD collateral integration as Standard Chartered launches RLUSD custody — LMAX Group, 12 Oct 2026. Accessed 13 Oct 2026.B
  10. [10]Ripple USD (RLUSD) expands to L2s with Wormhole's NTT standard — Wormhole, 15 Dec 2025. Accessed 13 Oct 2026.B
  11. [11]Ripple targets $13 trillion corporate treasury market to grow RLUSD stablecoin — CoinCentral, 13 Sep 2026. Accessed 26 Oct 2026.C
  12. [12]RLUSD Reserve Report, August 2026 — Standard Custody & Trust Company (Deloitte & Touche LLP), 29 Sep 2026. Accessed 28 Oct 2026. Accountant named on the letterhead and signature images (read by rendering the PDF); linked from ripple.com/products/stablecoin/transparency/..A
  13. [13]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A

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