Ripple USD (RLUSD) has become the top-ranked stablecoin in Bluechip’s latest ratings after the independent agency initiated coverage with an A rating. Announced on July 18, the move places RLUSD at the top of Bluechip’s stablecoin rankings and signals stronger market confidence in regulated, institution-focused digital dollar products.
Strong scores across core metrics
Bluechip said RLUSD immediately took the No. 1 position based on category scores of 0.91 for stability, 0.84 for management, and 0.86 for governance. The agency classified these results as “Stable” and “Very low risk.” In its public statement on X, Bluechip noted that RLUSD had become the new highest-rated stablecoin on its platform.
Reserve composition and oversight supported the rating
According to the assessment, RLUSD is backed by a mix of U.S. Treasury bills, government money market funds, and bank deposits. Bluechip described these assets as carrying minimal credit and duration risk, a key factor in evaluating a stablecoin’s resilience. The report also emphasized that RLUSD is regulated by the New York Department of Financial Services (NYDFS), which imposes strict standards on custody, reserves, and reporting.
Clear contrast with other major stablecoins
Bluechip’s broader stablecoin rankings place Gemini’s GUSD in third and PayPal’s PYUSD in fifth. Circle’s USDC received a B+ rating, while Tether’s USDT was assigned a notably lower D. These comparisons suggest Bluechip sees meaningful differences across the sector in transparency, governance, and reserve design, with RLUSD currently leading on those measures.
Ripple expands its institutional and regulatory reach
The ranking comes as Ripple continues to broaden its regulatory footprint and institutional partnerships. The company is seeking a license in Luxembourg for EU operations and has also applied for a national trust bank charter in the United States. The report further highlighted Ripple’s reserve custody relationship with BNY Mellon and direct support from Amina Bank. Ripple said RLUSD was built for enterprise use cases, emphasizing security, compliance, and scale for global business adoption.