As of November 14, 2026, Ripple's dollar-pegged stablecoin RLUSD has reached approximately $2.71 billion in circulation, overtaking PayPal's PYUSD and intensifying competition in the regulated stablecoin market. Ripple reported nearly $2.69 billion in RLUSD in circulation, while reserves exceeded the outstanding supply by about $136 million, underscoring over-collateralization and liquidity strength.
The milestone follows expanded distribution through partnerships with Coinbase and Robinhood, which are expected to broaden institutional and retail access to RLUSD. These integrations support use cases in payments, trading, and settlement, and reinforce Ripple's strategy to embed the stablecoin across the XRP Ledger and its cross-border payment network.
The overtaking of PYUSD highlights growing rivalry among established payments and blockchain firms seeking a share of the stablecoin market, with RLUSD's reserve cushion and exchange partnerships positioning it as a notable contender.
