According to AMBCrypto, Ripple’s RLUSD stablecoin has surpassed $1 billion in circulating supply on Ethereum, marking its strongest growth phase since launch. The milestone, highlighted by DefiLlama, reflects rising institutional adoption driven by recent regulatory approval in Abu Dhabi and expanding multi-chain liquidity on Ethereum and XRPL. The Ethereum-based supply now accounts for the majority of RLUSD’s total market cap, near $1.02 billion across all networks. The Abu Dhabi Global Market’s Financial Services Regulatory Authority recognized RLUSD as an 'Accepted Fiat-Referenced Token,' allowing licensed financial institutions to use it for collateral and settlements. Ripple emphasizes that RLUSD is fully backed by cash and U.S. treasuries, similar to USDC. While RLUSD is native to the XRP Ledger, Ethereum has become its primary growth driver, with the chain’s DeFi ecosystem and institutional RWA facilitating its adoption. Bridging between XRPL and Ethereum has increased following new integrations, enabling cross-chain liquidity providers to use RLUSD for payments and swaps.
Ripple's RLUSD Stablecoin Surpasses $1 Billion on Ethereum
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