Key Takeaways
What milestone did RLUSD hit on Ethereum?
Ripple’s RLUSD stablecoin surpassed $1 billion in circulating supply on Ethereum, making it one of the fastest-growing regulated USD stablecoins of the quarter.
What is driving RLUSD’s expansion?
Recent regulatory approval in Abu Dhabi, strong compliance credentials, and growing multi-chain liquidity on Ethereum and XRPL have boosted institutional demand.
Ripple’s RLUSD stablecoin has crossed $1 billion in circulating supply on Ethereum. This marks its strongest growth phase since launch. Also, it positions it among the fastest-expanding regulated USD stablecoins this quarter.
The milestone, highlighted in new data from DefiLlama, reflects rising institutional adoption. This follows fresh regulatory approvals and expanding multi-chain liquidity.
Source: DefiLlama
The Ethereum-based supply now accounts for the majority of RLUSD’s total market cap. It sits near $1.02 billion across all networks.
Its rapid expansion on the world’s largest stablecoin settlement chain signals that demand is coming from more than just XRP Ledger [XRPL] users.
It is increasingly flowing from institutions and DeFi participants operating on Ethereum’s deeper liquidity rails.
Regulatory momentum drives RLUSD institutional confidence
The surge follows a major regulatory development today. The Abu Dhabi Global Market’s Financial Services Regulatory Authority [FSRA] officially recognized RLUSD as an “Accepted Fiat-Referenced Token.”
The approval allows licensed banks, payment firms, brokers, and fintech companies within the ADGM to use RLUSD for collateral, settlements, and regulated financial operations.
The designation adds to RLUSD’s existing New York trust charter oversight. It gives Ripple one of the strongest regulatory footprints in the stablecoin sector.
Ripple has emphasized that cash and U.S. treasuries, a structure similar to USDC and other regulated fiat-backed tokens fully back RLUSD.
For institutions in the Middle East, Europe, and Asia, this makes RLUSD an appealing alternative to offshore or lightly regulated stablecoins.
Growing footprint across Ethereum and XRPL
While RLUSD is native to the XRPL, where it now accounts for an estimated 77% of all stablecoin value, Ethereum has become its primary growth driver.
The chain’s DeFi ecosystem, lending protocols, and institutional RWA have made it the natural settlement layer for regulated USD liquidity.
Bridging between XRPL and Ethereum has also increased following new ecosystem integrations. This enables cross-chain liquidity providers and exchangers to tap RLUSD for payments, swaps, and corporate settlement flows.
For Ripple, Ethereum’s scale provides RLUSD with a distribution channel that extends far beyond XRPL. It positions it directly alongside USDC, PYUSD, and other regulated competitors.
A growing role in the stablecoin market
RLUSD’s climb above $1 billion on Ethereum puts it within the top tier of new-generation stablecoins. But its footprint remains modest compared to giants like USDT and USDC.
However, with regulatory clarity, cross-chain presence, and accelerating demand, Ripple now appears well-positioned to capture a meaningful share of the compliant stablecoin market heading into 2026.
