Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
View articlesRLUSD (Ripple)
Ripple USD (RLUSD) is a US dollar-backed stablecoin issued by Standard Custody & Trust Company, LLC (a Ripple subsidiary), launched in December 2024. Regulation: New York limited purpose trust company charter (NYDFS); Ripple states RLUSD is also approved by the Dubai Financial Services Authority; OCC preliminary conditional approval for Ripple National Trust Bank (December 12, 2025). It is not on ESMA’s list of e-money tokens authorized under MiCA.
- Ticker
- RLUSD
- Issuer
- Standard Custody & Trust Company, LLC (a Ripple subsidiary)
- Pegged to
- US dollar
- Type
- Fiat-backed
- Launched
- December 2024
- E-money token under MiCA
- No
- Latest reserve report
- August 31, 2026
- Supply
- 2.409 billion RLUSD
- Supply as of
- September 24, 2026
- Transparency page
- ripple.com
- Checked on
US dollar deposits, short-term US Treasuries and cash equivalents in segregated accounts. On August 31, 2026 reserves had a market value of $2.45 billion against 2.33 billion RLUSD outstanding. Reserve reporting: monthly (two report dates per month). The latest report covers August 31, 2026. Supply: 2.409 billion RLUSD as of September 24, 2026, according to the issuer.
Only onboarded institutional customers can buy and redeem directly, at $1 per RLUSD less fees. Ripple does not publish the fee or a minimum. The issuer lists 7 networks where the token is issued natively: XRP Ledger, Ethereum, Base, Unichain, Optimism, Ink and XRPL EVM Sidechain.
- Token name
- Ripple USD
- Brand
- Ripple
- Regulation
- New York limited purpose trust company charter (NYDFS)
Ripple states RLUSD is also approved by the Dubai Financial Services Authority
OCC preliminary conditional approval for Ripple National Trust Bank (December 12, 2025) - Reserves
- US dollar deposits, short-term US Treasuries and cash equivalents in segregated accounts. On August 31, 2026 reserves had a market value of $2.45 billion against 2.33 billion RLUSD outstanding.
- Reserve reporting
- Monthly (two report dates per month)
- Latest report
- cdn.sanity.io
- Supply, millions of tokens
- 2,409
- Redemption
- Only onboarded institutional customers can buy and redeem directly, at $1 per RLUSD less fees. Ripple does not publish the fee or a minimum.
- Networks (native issuance)
- XRP Ledger, Ethereum, Base, Unichain, Optimism, Ink, XRPL EVM Sidechain
- Number of networks
- 7
- Website
- ripple.com
- Sources
Page URL Ripple - RLUSD Reserve Assets and Transparency Reports https://ripple.com/solutions/stablecoin/transparency/ Ripple - RLUSD product page and FAQ https://ripple.com/solutions/stablecoin/ RLUSD Reserve Report August 2026 https://cdn.sanity.io/files/ior4a5y3/production/4981331c98a2bb203c0c9ab2584e8b2a0da80938.pdf/RLUSD%20Attestation%20Report%20(Aug)_Final%20Signed.pdf RLUSD Stablecoin User Terms https://ripple.com/legal/stablecoin/ Ripple docs - RLUSD https://docs.ripple.com/products/stablecoin/overview/rlusd Ripple Insights - What actually makes a stablecoin regulated (2026-09-11) https://ripple.com/insights/what-actually-makes-a-stablecoin-regulated-a-guide-for-institutions-evaluating-rlusd/ Ripple press - federal approval to establish national trust bank (2025-12-12) https://ripple.com/ripple-press/ripple-secures-federal-approval-to-establish-national-trust-bank/ OCC Conditional Approval #1359 - Ripple National Trust Bank https://www.comptrollerofthecurrency.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/ca1359.pdf ESMA interim MiCA register: e-money token issuers https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv
