XRP Ledger Now Holds Over 20% of RLUSD Supply

Source: CoinEdition Original Title: XRP Ledger Now Holds Over 20% of RLUSD Supply Original Link:

RLUSD Supply Distribution Across Blockchains

Ripple’s U.S. dollar-backed stablecoin RLUSD is showing significant growth across its primary blockchains. Recent data shows that RLUSD minted on the XRP Ledger is now approaching 300 million tokens, while issuance on Ethereum has surpassed 1 billion tokens. As a result, the XRP Ledger now accounts for more than 20% of the total RLUSD supply in circulation.

The total RLUSD supply nears 1.3 billion tokens, with RLUSD currently ranked as the 55th largest cryptocurrency by market capitalization according to CoinMarketCap. This ranking reflects its growing footprint across multiple networks.

The figures highlight differing issuance patterns between networks. Ethereum remains the dominant chain by volume, hosting the majority of RLUSD supply, while the XRP Ledger has gained a significant portion relative to its overall network capacity.

Expansion Beyond Base Layers

Beyond its original deployments, Ripple has begun a test-phase expansion of RLUSD to several Ethereum layer-2 networks, including Optimism, Base, Ink, and Unichain. The rollout is intended to extend RLUSD’s availability across lower-cost and higher-throughput environments within the Ethereum ecosystem.

The multichain transfer mechanism relies on Wormhole’s Native Token Transfers standard. This framework allows RLUSD to move between blockchains without using wrapped or synthetic representations, preserving native issuance while enabling cross-network liquidity during the pilot phase.

Regulatory Oversight and Approvals

RLUSD is issued under a New York trust structure and operates under supervision from the New York Department of Financial Services. Ripple has stated that broader deployment of RLUSD across additional networks remains subject to regulatory approval.

In parallel, RLUSD has received regulatory recognition outside the United States. Abu Dhabi’s Financial Services Regulatory Authority has greenlisted the stablecoin for use within the Abu Dhabi Global Market. The designation enables FSRA-licensed institutions to utilize RLUSD for regulated activities, including collateral, lending, and prime brokerage, provided all compliance conditions are met.

Regulatory approvals and L2 expansion position RLUSD for broader regulated multichain use, solidifying its role in the evolving stablecoin landscape.