Ripple's RLUSD stablecoin has achieved a significant milestone, reaching a supply of $1.2 billion on the Ethereum blockchain just 14 months after its launch. This represents an approximate 10x year-over-year increase, highlighting the asset's rapid adoption. The $1.2 billion mark is a 20% increase from early November 2025, when RLUSD first surpassed $1 billion on Ethereum, itself a quick jump from the $900 million recorded on October 24, 2025.
On-chain data reveals the supply distribution: Ethereum holds the majority with roughly 1.2 billion tokens (77.13% of the market share), while the XRP Ledger (XRPL) accounts for 348 million tokens (22.87%). Over the past month, RLUSD supply on Ethereum grew by 11.54%, and on XRPL by 4.50%. According to RWA.xyz data, RLUSD's total market capitalization stands at $1.52 billion, placing it among the top ten stablecoins. The asset has 41,277 active holdings and recorded a 30-day trading volume of $3.2 billion.
Concurrently, Ripple has officially participated in the U.S. Federal Reserve's public discussion process regarding the Reserve Bank Payment Account pilot proposal under Docket OP-1877. This exploratory initiative considers whether the Fed should provide specialized accounts to specific non-bank financial institutions, potentially allowing them direct access to central bank accounts without relying on intermediary commercial banks.
In its response, Ripple stated the model aligns with goals of transparency and financial stability and reflects the growing importance of real-time digital finance. Market analysts suggest that for RLUSD, such access could minimize counterparty risk with commercial banks and make settlement processes more reliable, especially during periods of financial stress.
The news follows other developments in the stablecoin sector, including Binance finalizing the integration of RLUSD on the XRP Ledger network, preparing for withdrawals once liquidity conditions are met. The broader stablecoin market has a total capitalization of $295.11 billion, with Ethereum leading the ecosystem at $163.6 billion, followed by TRON, Solana, BNB Chain, and Arbitrum.
