Ripple’s stablecoin RLUSD has reached a $1.56 billion market capitalization, putting it within less than $500 million of the company’s stated $2 billion supply target. CoinMarketCap data shows 1.55 billion tokens are now in circulation. Even as the broader crypto market remains weak, RLUSD has kept its one-dollar peg, with daily trading volume staying above $43 million and at times moving past $100 million.
Bank integrations are adding institutional traction
The token’s rise has been tied closely to institutional usage rather than retail speculation. Deutsche Bank recently integrated Ripple’s payment infrastructure for cross-border services. Société Générale has also extended its euro stablecoin onto the XRP Ledger under MiCA rules. Those moves point to the same theme: Ripple is placing RLUSD inside regulated financial rails instead of relying on market momentum alone.
Attention is also on Ripple’s rollout plans in Japan with SBI Holdings. The source does not give a launch date, but the expected expansion in Japan is being watched as a meaningful step for RLUSD across Asian financial corridors. Ripple is also continuing its effort to obtain a U.S. National Trust Charter, matching the company’s broader compliance-led strategy.
$40 million minted on Ethereum in the past week
Ripple minted another $40 million worth of RLUSD on Ethereum over the past week. The pace is measured, not aggressive. The report describes this issuance as utility-driven growth rather than supply created to satisfy speculative demand. For a stablecoin, that distinction matters more than short bursts of expansion.
Ripple has also directed nearly $3 billion into acquisitions to build out payments and custody infrastructure. Within that setup, RLUSD is being positioned as regulated digital liquidity backed by verifiable reserves for institutional users. That separates it from more volatile crypto assets, and it also means the main growth signal is circulating supply linked to transactional demand.
The next threshold is the $2 billion mark
If issuance continues at the current rate, the report says RLUSD could move beyond $2 billion by early Q2 2026. A wider increase in bank usage could shorten that timeline. Unlike XRP, which tends to react more directly to market sentiment, RLUSD is being tracked through payment activity, settlement use, and institutional liquidity demand.
At this stage, RLUSD is moving into a different phase of stablecoin competition. The focus is no longer just how much supply can be issued, but how deeply the asset can be embedded into banking, cross-border payments, and regulated settlement flows. Based on the current figures, Ripple is advancing along that path.