RLUSD Reaches $2.4 Billion as Ripple Targets Corporate Treasury Flows

Frank Joaquin

Date: September 13, 2026

Ripple’s RLUSD stablecoin has expanded to approximately $2.4 billion in circulating supply, an increase of more than 50% over the past month, according to Token Terminal data cited by CoinDesk.

Approximately $1 billion of RLUSD is on the XRP Ledger, while around $1.4 billion circulates on Ethereum. Reported daily activity has risen from roughly $200 million at the beginning of the year to approximately $750 million.

Ripple now sees corporate treasury operations as a major expansion route. Its Ripple Treasury business serves around 1,200 corporate treasury and chief-financial-officer customers that collectively process approximately $13 trillion in transactions annually.

That $13 trillion figure must be interpreted carefully. It represents activity handled by the customer base—not committed RLUSD demand, forecast stablecoin volume or funds that have already migrated onchain.

Ripple’s strategy is to integrate RLUSD into payments, settlement, collateral, custody and prime-brokerage services rather than depend primarily on retail trading. The company identifies payments and capital markets as the stablecoin’s leading current use cases.

Europe is another objective. Ripple says it wants to establish a MiCA-compliant dual-issuance structure for RLUSD and is selectively adding networks where it sees demand rather than deploying across every available chain.

RLUSD remains much smaller than USDT and USDC. Its recent growth nevertheless gives Ripple a larger settlement asset within an institutional stack that includes treasury software, brokerage, payments and custody.

TOKEN RECON ASSESSMENT

The relevant number is not Ripple Treasury’s $13 trillion customer-transaction pool. It is the portion of that activity that actually migrates to RLUSD.

Supply growth is constructive, but stablecoin success ultimately depends on independent holders, redemption reliability, settlement usage and durable liquidity.

Watch RLUSD’s daily transfer activity, holder concentration, integrations with corporate customers, European authorization and the division of supply between Ethereum and the XRP Ledger.