RLUSD, Supply Exceeds $2.5 Billion...Can it Overtake PayPal with a Stablecoin?

▲ RLUSD, USD, Stablecoin/AI Generated Image

Ripple's stablecoin RLUSD has reached a new milestone with its supply exceeding $2.5 billion.

According to crypto media outlet U.Today on September 30 (local time), the total circulating supply of Ripple's USD-pegged stablecoin RLUSD has reached $2.5 billion. RLUSD's market capitalization, which was approximately $1.34 billion at the beginning of 2026, has surged by over 86%, demonstrating rapid growth.

RLUSD's supply has shown balanced expansion across major underlying blockchains. The Ethereum (ETH) network accounts for approximately 56% of the total supply, while the XRP Ledger supports about 44%, significantly boosting liquidity within the ecosystem. Notably, RLUSD has dominated over 90% of the XRP Ledger-based stablecoin market, solidifying its position as the ecosystem's standard stablecoin.

The integration with institutional infrastructure and the expansion of global institutional partnerships are considered key drivers behind this surge in supply. RLUSD, issued under the regulatory oversight of the New York Department of Financial Services (NYDFS), has secured institutional trust through its collaboration with The Bank of New York Mellon (BNY), which handles the custody of reserve assets. Furthermore, its practical applications as a global payment and financial instrument are rapidly expanding, including payment support from global payment company Mastercard and collaboration with Japan's SBI Holdings.

Experts diagnose that RLUSD is closely trailing PayPal USD (PYUSD) in the stablecoin market dominated by Tether (USDT) and USD Coin (USDC), aiming to enter the top three. Market attention is focused on whether RLUSD's rapid growth, armed with regulatory compliance capabilities and banking ties, will lead to increased transaction volume and enhanced liquidity on the XRP Ledger in the future.

[Key Article Summary]

-RLUSD supply surpassed $2.5 billion, surging over 86% compared to the beginning of the year.

-The Ethereum network accounts for 56% and the XRP Ledger for 44% of the circulating supply, expanding the ecosystem.

-Backed by Mastercard payment integration and institutional custody infrastructure, it is closely trailing PayPal USD.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*