Key Points
- Ripple’s RLUSD stablecoin surpassed $1 billion in market capitalization in November 2025.
- The stablecoin achieved this milestone through institutional adoption and humanitarian partnerships.
Ripple’s USD-pegged stablecoin, RLUSD, reached a market capitalization of over $1 billion in early November 2025. This significant milestone occurred less than a year after its launch in December 2024. The achievement was largely due to institutional adoption and humanitarian partnerships, which led to RLUSD becoming the 10th largest USD-pegged stablecoin by market cap. The stablecoin recorded an impressive year-to-date growth of 1,278%.
RLUSD’s Market Performance
Live blockchain data reveals that RLUSD’s total value stands at $1.02 billion. Of this, $819.7 million is on Ethereum and $203 million is on the XRP Ledger, as per CoinGecko. The stablecoin has 38,166 holders and processes $5.05 billion in monthly transfer volume. Its daily trading volume has reached $174 million, a figure that is comparable to PayPal USD and Dai.
Standard Custody & Trust Company, a subsidiary of Ripple, issues RLUSD under the supervision of the New York Department of Financial Services. The stablecoin operates on both the Ethereum and XRP Ledger networks.
Reserve Management and Adoption
The company holds reserves of US Treasury bills with maturities of three months or less, government money market funds, and deposits at FDIC-insured banks. As of October 30, 2025, Standard Custody reported $908.5 million in circulating RLUSD against $950.9 million in reserve funds.
RLUSD maintains a 103% reserve buffer through a 3% initial buffer and daily variation adjustments. Non-cash reserve assets are held in custody by The Bank of New York Mellon, providing separation from Standard Custody’s proprietary assets. An independent certified public accountant conducts monthly attestations of reserves and circulation.
Institutional clients can execute over-the-counter spot transactions across multiple digital assets, including XRP and RLUSD, thanks to Ripple’s US spot prime brokerage launched on November 3, 2025. This followed the $1.25 billion acquisition of Hidden Road in October.
Non-profit organizations like World Central Kitchen and Water.org have also adopted RLUSD for cross-border humanitarian aid payments. This growth trend followed Ripple’s announcement of a $1 billion XRP buyback plan in October 2025 to boost its XRP treasury.
