Ripple’s RLUSD Stablecoin Tops $100M Issued as Payments Use Expands
Ripple’s U.S. dollar-pegged stablecoin, RLUSD, is gaining momentum — with over $100 million issued since April 1, signaling growing market demand and stirring potential competition with established players like Tether (USDT) and USD Coin (USDC).
Two major tranches — $50 million minted on Tuesday and another $50 million on Wednesday — have pushed RLUSD issuance to its highest level in recent months. The surge coincides with Ripple’s integration of RLUSD into its core payments suite, now being utilized by providers such as BKK Forex and iSend.
Industry insiders say the growth of RLUSD could reshape the stablecoin landscape, challenging incumbents and offering an alternative backed by Ripple’s infrastructure.
Built on both the XRP Ledger and Ethereum, RLUSD maintains a 1:1 peg to the U.S. dollar. It’s fully backed by a mix of U.S. dollar deposits, short-term Treasuries, and cash equivalents, providing a familiar model for users accustomed to traditional stablecoins.
Redemptions and issuance occur through authorized partners, ensuring each RLUSD token is matched by an equivalent fiat reserve. The system relies on market arbitrage to maintain the peg: if the token dips below $1, traders buy and redeem for profit; if it rises above $1, new tokens are minted to meet demand.
The RLUSD rollout may also have implications for XRP itself. As DeFi apps on the XRP Ledger increasingly integrate the stablecoin, demand for the XRP token could receive a secondary boost.
A unique feature that sets RLUSD apart is its support for the XRP Ledger’s “clawback” functionality, introduced in January. This gives issuers the ability to recover tokens in special circumstances — such as fraud, illicit activity, or misdirected transfers — enhancing compliance options for institutions.
With RLUSD gaining adoption in Ripple’s payment ecosystem and beyond, the stablecoin could play a growing role in crypto’s evolving financial infrastructure.
