Ripple’s dollar-pegged stablecoin RLUSD has moved past $2 billion in market capitalization, according to market data cited in the source report. The token’s circulating supply is divided between the XRP Ledger and Ethereum, with both networks now carrying large portions of issuance.
The report places RLUSD’s total market cap at about $2.02 billion. Of that amount, roughly $962.8 million is issued on the XRP Ledger, while about $1.05 billion is on Ethereum, underscoring the token’s role as a cross-chain dollar instrument.
Supply expands across two networks
RLUSD is structured to hold a value of $1 per token and is issued across two separate blockchains rather than a single network. The current distribution shows Ethereum holding a slightly larger share of supply, while the XRP Ledger is close to the $1 billion mark.
That split matters because it reflects how RLUSD is being positioned for use across different blockchain environments. The source article says circulation on both the XRP Ledger and Ethereum now represents substantial portions of the stablecoin’s overall supply.
Reserve structure and attestations
The stablecoin is described as being backed by reserves that include cash, short-term U.S. Treasuries, government money market funds, overnight reverse repurchase agreements, and bank deposits. Those assets are intended to support RLUSD’s dollar peg.
The report also says monthly reserve attestations are conducted. It does not add further detail in the extracted text, but presents those attestations as part of the framework supporting the token’s reserve-backed design.
Transaction volume reached $11.81 billion in 30 days
Over the previous 30 days, RLUSD transfers totaled $11.81 billion across 1.39 million transactions, based on the figures cited in the source. The reported activity points to a notable increase in usage alongside the token’s rise in circulating supply.
The article attributes that transfer volume to growing dollar-denominated liquidity on the XRP Ledger. At the same time, RLUSD remains active across Ethereum as well, giving the asset a broader footprint than a single-chain stablecoin.
What the milestone suggests
The source says RLUSD’s expansion has supported broader institutional access, liquidity, and cross-chain use through Ripple’s unified issuance platform, along with other developments tied to payments infrastructure and global access.
The clearest confirmed next step is continued monitoring of issuance, reserve attestations, and network activity on both the XRP Ledger and Ethereum. For now, the main takeaway is that RLUSD has crossed the $2 billion threshold while maintaining a large and active presence on each of its two supported chains.
Source: news.bitcoin.com