Ripple’s RLUSD Takes Off – Here’s What’s Driving It

Ripple’s dollar-pegged stablecoin, RLUSD, is making waves in the digital asset space, posting the fastest growth among stablecoins in June 2025. 

RLUSD’s Supply Surges

According to DeFiLlama data , RLUSD’s circulating supply increased by 47.33% over the month, rising to $455 million —a $150 million rise that signals growing market confidence in Ripple’s newest financial product.

Originally launched in December 2024, RLUSD is designed to meet stringent regulatory standards. 

It is issued under a New York trust company license and backed by short-term U.S. Treasurys and cash. With this structure, Ripple aims to provide institutional-grade reliability and global accessibility in a stablecoin market that is often marred by legal uncertainties.

RLUSD Expands Rapidly

Ethereum currently hosts the lion’s share (85%) of RLUSD’s supply, approximately $390 million, while the XRP Ledger holds the remaining $65.9 million. 

Notably, the supply on Ethereum has quadrupled since January, according to Token Terminal , reflecting RLUSD’s accelerating adoption beyond Ripple’s native ecosystem.

Most of RLUSD’s supply (85%) is on Ethereum. Source: Defillama

RLUSD’s growth is getting a big boost from the new U.S. GENIUS Act. The law establishes clear rules for dollar-backed stablecoins and is viewed as a significant step toward broader adoption by businesses and institutions.

Ripple’s legal situation has also improved significantly. After years of battling the U.S. Securities and Exchange Commission, the company dropped its cross-appeal earlier this year. This move signals the likely conclusion of the high-profile Ripple vs. SEC lawsuit and removes a major cloud hanging over Ripple’s future.

RLUSD recently received approval from the Dubai Financial Services Authority, allowing its use within the Dubai International Financial Centre. The financial hub hosts nearly 7,000 businesses across the Middle East, Africa, and South Asia, paving the way for broader adoption of the stablecoin.

On the Flipside:

• Despite its rapid growth, RLUSD still faces stiff competition from established stablecoins such as USDC and USDT.

Why This Matters

With both regulatory clarity and growing cross-chain utility, RLUSD is rapidly positioning itself as a top contender in the evolving stablecoin economy.

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