Ripple's stablecoin division, the RLUSD Treasury, has executed a significant liquidity injection, transferring a total of $40 million worth of its RLUSD stablecoin to a wallet associated with the Gemini cryptocurrency exchange. The transaction was conducted in two equal parts of 20 million RLUSD each, executed on January 9, 2026.
Following these transfers, the total balance of RLUSD in the specific Gemini-linked wallet now exceeds 98.3 million tokens. The move was highlighted by on-chain analyst account XRP_Liquidity, which noted the wallet now holds 98,332,963.64949 RLUSD. Despite the scale of the transaction, Ripple has made no official announcement regarding its purpose, and no subsequent movements to retail wallets or other exchanges have been observed.
The transaction has ignited intense speculation within the XRP community, particularly due to Ripple's known partnerships. Ripple is actively collaborating with Mastercard, Gemini, and WebBank on a pilot project for credit card settlement using RLUSD on the XRP Ledger. This project is reportedly awaiting regulatory clearance for full implementation. Observers theorize the $40 million transfer could be a pre-deployment positioning of liquidity in preparation for this initiative.
Despite the large transfer, the broader RLUSD market metrics have remained stable. The total supply of RLUSD is $1.33 billion, with a 24-hour trading volume of approximately $110.7 million. The injection appears to be a strategic liquidity management move by Ripple, signaling preparation for future projects.
In a separate but related development, Ripple has achieved a regulatory milestone in the United Kingdom. Ripple Markets UK Ltd., its local subsidiary, has successfully registered with the UK's Financial Conduct Authority (FCA). This registration authorizes the firm to conduct specific crypto asset activities in compliance with the UK's anti-money laundering and counter-terrorist financing regulations, marking a key step in Ripple's global expansion.
