The RLUSD stablecoin has crossed a major milestone on the XRP Ledger, gaining significant circulation and institutional interest since its December 2024 launch.
How did RLUSD reach a $1 billion market cap on the XRP Ledger?
RLUSD surpassed a $1 billion market cap on the XRP Ledger, backed by a reported 1.02B supply on CoinMarketCap. The milestone was highlighted publicly by Monica Long and noted as the largest stablecoin presence on the ledger to date. In this context, the figure marks a notable shift in the ledger’s token composition while market conditions remain dynamic.
As of 4 November 2025, RLUSD’s market capitalization surpassed $1.0 billion, according to CoinMarketCap. Prime brokerage custody integration matters because it enables institutional flows by providing segregated accounts, regulatory‑grade custody and ready links to lending and margin desks, materially reducing on‑ramp friction and counterparty risk.
Monica Long said:
“The RLUSD team puts the pedal to the metal everyday.congrats JackMcDonald and team on this achievement”.
How is RLUSD minted on Ethereum and the XRP Ledger? (rlusd ethereum xrp ledger)
RLUSD is issued on both Ethereum and the XRP Ledger via bridging and wrapped-mint routines that maintain pegging mechanics across chains. Transactions and redemption flows operate on-chain, with liquidity provision split between the two networks [data to verify]. It should be noted that these cross‑chain arrangements rely on bridging and redemption mechanics to preserve the peg.
Cross‑chain minting raises bridging, oracle and attestation risks that require strict monitoring and governance; institutions evaluating minting mechanisms should expect on‑chain proofs, slashing protections and contractual indemnities to mitigate potential loss. Jack McDonald tweeted he was “proud of the stablecoins team at Ripple as RLUSD surpasses $1 billion.” — Jack McDonald.
When did RLUSD launch (December 2024)?
RLUSD launched in December 2024 and entered markets with rapid minting activity across chains. Early adoption by institutional clients accelerated supply growth within weeks of the December 2024 debut. In brief, the token’s cross-chain minting and reported 1.02B supply helped push it past a $1 billion valuation, marking a notable XRP Ledger milestone.
What do Ripple Prime services and the Hidden Road acquisition mean for RLUSD?
Ripple Prime‘s extension into Hidden Road’s prime services is presented as a way to fold custody, settlement and institutional trading into RLUSD’s infrastructure. The acquisition is positioned to streamline onboarding for broker‑dealers and custody providers, expanding RLUSD’s institutional footprint [data to verify]. In this context, the move seeks to align custody and settlement workflows more closely with stablecoin plumbing.
How is RLUSD used as collateral for prime brokerage?
Sources indicate RLUSD is being positioned as collateral in prime brokerage setups, offering lower‑friction settlement for institutional desks. Using RLUSD as collateral could reduce counterparty credit frictions when paired with custody by Hidden Road. It should be noted that institutional uptake depends on robust custody, clear regulatory frameworks and exchange listings to provide sufficient liquidity for collateral use.
Tip: Institutional uptake depends on robust custody, clear regulatory frameworks and exchange listings to provide sufficient liquidity for collateral use.
Where will RLUSD exchange listings and prime brokerage use take it next?
Future exchange listings and integration into prime brokerage workflows are likely to shape RLUSD’s liquidity and market depth. Market watchers should track new listings and institutional custody arrangements as leading indicators of sustained adoption.
Regulatory clarity and continued support from ledger‑level tooling will determine whether RLUSD consolidates its position or faces competition from other stablecoins across Ethereum and the XRP Ledger. It should be noted that exchange listings and regulatory outcomes will influence market structure and investor confidence.
