{"id":"rlusd","title":"RLUSD","content":"**RLUSD (Ripple USD)** is a [stablecoin](https://iq.wiki/wiki/stablecoin) launched by the [crypto](https://iq.wiki/wiki/cryptocurrency) solution infrastructure, [Ripple](https://iq.wiki/wiki/ripple-labs) on December 17, 2024 [\\[1\\]](#cite-id-WIttSrc4nu).\n\n## Overview\n\n[RLUSD](https://iq.wiki/wiki/rlusd) was first introduced in June 2024 [\\[2\\]](#cite-id-9Nt5laQfsc). In August 2024, [RLUSD](https://iq.wiki/wiki/rlusd) was announced to be in private beta testing on [XRP](https://iq.wiki/wiki/xrp) Ledger and [Ethereum](https://iq.wiki/wiki/ethereum) [mainnet](https://iq.wiki/wiki/mainnet) [\\[2\\]](#cite-id-9Nt5laQfsc). [Ripple](https://iq.wiki/wiki/ripple-labs) stated plans to expand [RLUSD](https://iq.wiki/wiki/rlusd) to additional blockchains and decentralized finance (DeFi) protocols over time [\\[2\\]](#cite-id-9Nt5laQfsc).\n\n[RLUSD](https://iq.wiki/wiki/rlusd) is valued 1:1 to the US dollar (USD) and is 100% backed by US dollar deposits, short-term US government treasuries, and other cash equivalents [\\[2\\]](#cite-id-9Nt5laQfsc). [Ripple](https://iq.wiki/wiki/ripple-labs) mints [RLUSD](https://iq.wiki/wiki/rlusd) under a New York trust-company license and records each token against these [reserve](https://iq.wiki/wiki/reserve) assets held in regulated accounts [\\[1\\]](#cite-id-WIttSrc4nu). A third-party accounting firm will audit these [reserve](https://iq.wiki/wiki/reserve) assets, and [Ripple](https://iq.wiki/wiki/ripple-labs) will publish monthly attestations [\\[2\\]](#cite-id-9Nt5laQfsc).\n\nWhile [RLUSD](https://iq.wiki/wiki/rlusd) was officially launched on December 17, 2024 [\\[1\\]](#cite-id-WIttSrc4nu), some users reported being able to add the [stablecoin](https://iq.wiki/wiki/stablecoin) on the self-custodial [XRP](https://iq.wiki/wiki/xrp) wallet Xaman on December 4, 2024, by setting up Trustlines [\\[2\\]](#cite-id-9Nt5laQfsc). Xaman chief operating officer Robert Kiuru noted that Trustlines can be set up for any asset but do not confirm the issuance or availability of the asset itself [\\[2\\]](#cite-id-9Nt5laQfsc).\n\n## Supply and Usage Growth\n\nIn the week ending June 8, 2025, RLUSD's circulating supply increased by 29%, adding $72.5 million and surpassing the $300 million threshold to close at $320.6 million [\\[1\\]](#cite-id-WIttSrc4nu). This marked a sixfold increase in the token's float since its launch on December 17, 2024 [\\[1\\]](#cite-id-WIttSrc4nu).\n\nThe increase in supply coincided with a 38% rise in weekly transfer volume, climbing to $648.1 million from $469.7 million the previous week [\\[1\\]](#cite-id-WIttSrc4nu). This volume was close to the peak weekly transfer volume of $741 million registered between April 21 and 27 [\\[1\\]](#cite-id-WIttSrc4nu). During this period, [Ripple](https://iq.wiki/wiki/ripple-labs) did not burn any tokens, indicating the increase was due to net new creation rather than re-issuance [\\[1\\]](#cite-id-WIttSrc4nu).\n\nDespite this growth, [RLUSD](https://iq.wiki/wiki/rlusd) accounts for approximately 0.1% of the total [stablecoin](https://iq.wiki/wiki/stablecoin) market, which stands at around $236 billion [\\[1\\]](#cite-id-WIttSrc4nu).\n\n## Regulatory Approvals and Partnerships\n\nIn December 2024, [Ripple](https://iq.wiki/wiki/ripple-labs) Labs’ [RLUSD](https://iq.wiki/wiki/rlusd) [stablecoin](https://iq.wiki/wiki/stablecoin) received approval from the New York Department of Financial Services (NYDFS) [\\[2\\]](#cite-id-9Nt5laQfsc).\n\nDays before the supply surpassed $300 million in June 2025, the Dubai Financial Services Authority (DFSA) approved [RLUSD](https://iq.wiki/wiki/rlusd) for use within the Dubai International Financial Centre (DIFC) [\\[1\\]](#cite-id-WIttSrc4nu). [Ripple](https://iq.wiki/wiki/ripple-labs) intends to integrate [RLUSD](https://iq.wiki/wiki/rlusd) with its DFSA-licensed payments platform, allowing up to 7,000 locally regulated firms to settle transactions using the token [\\[1\\]](#cite-id-WIttSrc4nu). Ripple’s managing director for the Middle East and Africa, Reece Merrick, highlighted the growing demand for digital-asset settlement and custody in the region and the UAE's dynamic digital economy [\\[1\\]](#cite-id-WIttSrc4nu). The DFSA approval provides [RLUSD](https://iq.wiki/wiki/rlusd) with both US and international regulatory recognition [\\[1\\]](#cite-id-WIttSrc4nu).\n\nIn October 2024, [Ripple](https://iq.wiki/wiki/ripple-labs) partnered with several exchanges, including Uphold, [Bitstamp](https://iq.wiki/wiki/bitstamp), Bitso, [MoonPay](https://iq.wiki/wiki/moonpay), Independent [Reserve](https://iq.wiki/wiki/reserve), CoinMENA, and [Bullish](https://iq.wiki/wiki/bullish), to facilitate the token's launch [\\[2\\]](#cite-id-9Nt5laQfsc). Liquidity support is expected from market makers such as B2C2 and Keyrock [\\[2\\]](#cite-id-9Nt5laQfsc).\n\n[RLUSD](https://iq.wiki/wiki/rlusd) is also part of [Ripple](https://iq.wiki/wiki/ripple-labs)'s strategy following the acquisition of the prime brokerage platform Hidden Road. [Ripple](https://iq.wiki/wiki/ripple-labs) plans to integrate [RLUSD](https://iq.wiki/wiki/rlusd) into Hidden Road’s services as part of the $1.25 billion deal [\\[1\\]](#cite-id-WIttSrc4nu).\n\n## Expansion to Japan\n\nIn August 2025, [Ripple](https://iq.wiki/wiki/ripple-labs) and SBI Holdings announced a partnership to launch the RLUSD stablecoin in Japan by early 2026. The joint initiative, formalized under a memorandum of understanding, will see RLUSD distributed through SBI VC Trade, the licensed crypto exchange of SBI Holdings [\\[3\\]](#cite-id-2oSVro2Y5t).\n\nThis expansion is enabled by Japan's amended Payment Services Act, which took effect in June 2023 and created a licensing framework for issuing and distributing stablecoins. SBI VC Trade was the first entity in Japan to obtain an Electronic Payment Instruments Exchange Service Provider license, which permits it to handle foreign-issued stablecoins like RLUSD [\\[3\\]](#cite-id-2oSVro2Y5t). According to SBI VC Trade CEO Tomohiko Kondo, the introduction of RLUSD is intended to enhance the \"reliability and convenience of stablecoins in the Japanese market\" [\\[3\\]](#cite-id-2oSVro2Y5t).\n\n## Relationship with XRP\n\n[Ripple](https://iq.wiki/wiki/ripple-labs) plans to use both [RLUSD](https://iq.wiki/wiki/rlusd) and [XRP](https://iq.wiki/wiki/xrp) in its cross-border payments solution to serve its global customers [\\[2\\]](#cite-id-9Nt5laQfsc). [Ripple](https://iq.wiki/wiki/ripple-labs) president Monica Long stated that [RLUSD](https://iq.wiki/wiki/rlusd) was built to be complementary and additive to [XRP](https://iq.wiki/wiki/xrp) [\\[2\\]](#cite-id-9Nt5laQfsc).\n\nSome sources suggest that [RLUSD](https://iq.wiki/wiki/rlusd) is seen as beneficial for [XRP](https://iq.wiki/wiki/xrp) because the two assets will be paired with each other [\\[2\\]](#cite-id-9Nt5laQfsc). [XRP](https://iq.wiki/wiki/xrp) is expected to help add liquidity to [RLUSD](https://iq.wiki/wiki/rlusd) due to its significant availability on exchanges, while the pairing is intended to help [stabilize](https://iq.wiki/wiki/stabilize) [RLUSD](https://iq.wiki/wiki/rlusd)'s price and prevent depegging [\\[2\\]](#cite-id-9Nt5laQfsc).\n\n## Target Audience and Strategy\n\nAccording to [Ripple](https://iq.wiki/wiki/ripple-labs) Labs CEO [Brad Garlinghouse](https://iq.wiki/wiki/brad-garlinghouse), [RLUSD](https://iq.wiki/wiki/rlusd) will primarily focus on large institutional players [\\[2\\]](#cite-id-9Nt5laQfsc). Garlinghouse stated that there is an opportunity for a new player in the [stablecoin](https://iq.wiki/wiki/stablecoin) market that emphasizes institutions and compliance [\\[2\\]](#cite-id-9Nt5laQfsc).\n\nHe also mentioned that [Ripple](https://iq.wiki/wiki/ripple-labs) had previously used other stablecoins, such as [Circle’s USDC](https://iq.wiki/wiki/usdc), in its payment flows [\\[2\\]](#cite-id-9Nt5laQfsc). Garlinghouse cited the [USDC](https://iq.wiki/wiki/usdc) depegging event in the spring of 2023 as highlighting an opportunity for a credible player already working with financial institutions to enter the market [\\[2\\]](#cite-id-9Nt5laQfsc).","summary":"RLUSD (Ripple USD) is a stablecoin launched by Ripple on December 17, 2024, pegged 1:1 to the US dollar. It is backed by US dollar deposits and approved by the ...","images":[{"id":"QmPW7gFZcynwSZXRoeykiVaLQVDaeXPJXM3kqftWDb6hUZ","type":"image/jpeg, image/png"}],"categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"tags":[{"id":"Stablecoins"}],"media":[],"metadata":[{"id":"website","value":"https://ripple.com/"},{"id":"twitter_profile","value":"https://x.com/Ripple/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/ripple-usd"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/ripple-usd/"},{"id":"references","value":"[{\"id\":\"WIttSrc4nu\",\"url\":\"https://cryptoslate.com/rlusd-surpasses-300m-supply-as-ripple-secures-uae-backing/\",\"description\":\"RLUSD supply and UAE approval\",\"timestamp\":1749514494056},{\"id\":\"9Nt5laQfsc\",\"url\":\"https://cointelegraph.com/news/ripple-rlusd-stablecoin-launch-2024\",\"description\":\"RLUSD pre-launch details\",\"timestamp\":1749514494056},{\"id\":\"2oSVro2Y5t\",\"url\":\"https://decrypt.co/336380/ripple-sbi-to-launch-rlusd-stablecoin-japan-early-2026\",\"description\":\"Ripple and SBI to launch RLUSD in Japan\",\"timestamp\":1755863202613}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmWzbMcZ5gjru56XaYnd1D8s8i84LSa4sf3TSAMpLsQjZw\""},{"id":"commit-message","value":"\"Update wiki with information about expansion to Japan\""},{"id":"previous_cid","value":"QmWzbMcZ5gjru56XaYnd1D8s8i84LSa4sf3TSAMpLsQjZw"}],"events":[{"id":"a4b89f4f-687c-4cfb-b311-d6df8c49f4ac","date":"2024-12","title":"Date Founded","type":"CREATED","description":"RLUSD Launch"}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x212Cb3F4aE6611054637f9f78F18fB628AD258bb"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum"],"founders":["chris-larsen","jed-mccaleb"],"speakers":[]}}