Ripple’s RLUSD stablecoin has seen substantial growth, with its total supply increasing by 50% within a single month. This surge reflects significant market expansion, clearer regulatory recognition, and strategic global adoption.
By the end of the month, RLUSD’s total outstanding supply reached $455 million. This includes $65 million held directly on Ripple’s native XRP Ledger and $390 million in active circulation. This distribution underscores Ripple’s strategic focus on multi-chain deployment.
Key drivers of this growth include notable regulatory developments. The passage of the GENIUS Act in the United States provided a clearer federal framework for dollar-backed stablecoins. RLUSD’s compliance credentials have been reinforced through its existing approval as a limited payments stablecoin under a New York trust license.
Ripple’s ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC) also took a significant turn. CEO Brad Garlinghouse withdrew the company’s cross-appeal against the SEC’s interlocutory appeal, signaling a move towards de-escalation. This action contributed to bolstered institutional confidence in RLUSD.
International expansion has been another critical factor. Ripple secured approval from Dubai’s Financial Services Authority (DFSA) for RLUSD to be utilized within the Dubai International Financial Centre (DIFC). This positions RLUSD as a key participant in the region’s rapidly evolving digital finance sector.
The stablecoin leverages its deployment on both Ethereum and the XRP Ledger. This multi-chain approach strategically utilizes Ethereum’s extensive decentralized finance (DeFi) ecosystem for liquidity provision and yield generation, while the integration on the XRP Ledger enhances its utility and reach across Ripple’s established enterprise user base.