Ripple’s Regulated Stablecoin RLUSD Surpasses $120 Million in Supply

• USDT ($142B) and USDC ($56.5B) lead; RLUSD’s regulated approach targets institutions, needs cross-chain growth to compete. 
• Ripple prioritizes regulatory compliance, balances expansion. Focus on XRP Ledger utility, aims to bridge traditional and crypto finance.

Ripple USD (RLUSD), now exceeds $120 million in total supply, according to data from CryptoQuant. This figure represents measurable progress for the asset, which launched in late 2023 under strict regulatory oversight. The stablecoin crossed the $100 million threshold in January, less than two months after its debut.

RLUSD Total Supply reached $120,000,000

“RLUSD grew quickly on Ethereum. However, it has gained more traction on XRPL lately, likely due to the lower transaction fees on the XRP Ledger.” – By @JA_Maartun

Full post 👇 https://t.co/jowsD5TlwI pic.twitter.com/FtJZx6ICmN

— CryptoQuant.com (@cryptoquant_com) February 17, 2025

RLUSD’s distribution initially favored the Ethereum blockchain, where most tokens were issued. Over time, activity on the XRP Ledger—a blockchain developed by Ripple—has increased.

As of February 10, Ripple minted an additional 1.05 million tokens, as tracked by the Ripple Stablecoin Tracker account. Ethereum-based RLUSD still dominates the circulating supply, but the XRP Ledger’s share continues to grow. 

Expansion to additional blockchains appears likely

Cardano founder Charles Hoskinson confirmed preliminary efforts to integrate RLUSD into his network, though technical details remain undisclosed. Such integrations could broaden the stablecoin’s utility across decentralized applications and payment systems.

Since securing regulatory approval, RLUSD has been listed on multiple trading platforms. Bitstamp added the stablecoin in January, followed by Revolut and Zero Hash in early February. These listings improve accessibility for retail and institutional users, aligning with Ripple’s goal of bridging traditional finance and blockchain-based transactions.

Despite rapid early adoption, RLUSD’s $120 million supply remains modest compared to established rivals. Circle’s USDC, another regulated stablecoin, holds a $56.5 billion market capitalization.

Tether’s USDT, the largest stablecoin, exceeds $142 billion. ETHNews analysts note that RLUSD’s growth hinges on further exchange support, cross-chain interoperability, and institutional adoption.

Ripple’s emphasis on compliance distinguishes RLUSD in a sector often scrutinized for regulatory gaps. The company has not disclosed specific plans for future token issuance or partnerships but maintains a focus on aligning with financial regulations.

Observers will monitor whether RLUSD’s regulated status attracts risk-averse investors seeking alternatives to less transparent stablecoins.