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- RLUSD supply on XRP Ledger has exceeded Ethereum for the first time.
- Ripple’s Japan launch with SBI expands stablecoin access for institutions.
- Ethereum remains important despite growing XRP Ledger momentum.
Ripple’s RLUSD stablecoin has reached a new milestone as the XRP Ledger now holds more circulating supply than Ethereum, marking a significant shift in the early distribution of the asset. The development comes as Ripple expands RLUSD access into Japan through a partnership with SBI Holdings and SBI VC Trade, strengthening the stablecoin’s role in institutional payments and digital asset adoption.
According to tracking data for Ripple USD, the XRP Ledger currently hosts approximately $801.79 million worth of RLUSD, slightly surpassing Ethereum’s $795.59 million supply. This marks the first time XRPL has moved ahead of Ethereum in terms of RLUSD circulation, highlighting growing activity around Ripple’s blockchain ecosystem.
RLUSD Expansion Boosts XRP Ledger Adoption
The rise in XRP Ledger-based RLUSD supply follows Ripple’s announcement that the stablecoin is now available in Japan. The launch was made possible through collaboration with SBI Holdings and crypto exchange SBI VC Trade, with a focus on areas such as cross-border payments, asset tokenization and collateral management.
Ripple said the move represents a step toward broader access to regulated, dollar-backed stablecoins for businesses, financial institutions and consumers. Jack McDonald, Ripple’s Senior Vice President of Stablecoins, described the Japanese launch as an important development in expanding RLUSD availability within a regulated market.
The stablecoin has also received approval from Japan’s Financial Services Agency, allowing it to operate as an electronic payment instrument under the country’s Payment Services Act.
Ethereum Still Plays a Major Role Despite XRPL Growth
While the XRP Ledger has taken the lead in RLUSD supply, Ethereum remains a major part of the stablecoin landscape. The network has historically been the foundation for many institutional crypto products, especially ERC-20 assets, due to its established infrastructure and widespread adoption.
XRPL validator Vet highlighted that Ethereum’s importance should not be overlooked. He noted that many large organizations often launch products on Ethereum first because of existing integrations, while XRP Ledger support may follow later as companies expand their systems.
SBI VC Trade currently supports Ethereum-based infrastructure for RLUSD, with XRP Ledger support expected to be added in the future. This suggests that both networks could continue playing roles in Ripple’s stablecoin strategy.
What RLUSD’s Growth Means for Ripple’s Future
The growing RLUSD presence on XRPL could strengthen adoption of the XRP Ledger among financial platforms looking for stablecoin solutions. Support for RLUSD may also encourage institutions to explore other assets and applications built on the network.
However, competition between blockchain ecosystems remains active. Ethereum continues to benefit from deep liquidity and broad developer support, while XRPL is positioning itself around payments and institutional use cases.d
As Ripple continues expanding RLUSD globally, the stablecoin’s growth could become a key factor in determining how the XRP Ledger competes in the evolving digital payments market.
Also Read: Ripple Launches RLUSD in Japan: 5 Key Things Crypto Investors Need to Know
RLUSD’s supply milestone represents a notable moment for Ripple and the XRP Ledger. Although Ethereum remains a powerful player, XRPL’s recent growth shows increasing interest from institutions seeking regulated stablecoin infrastructure. With further expansion planned, RLUSD could become an important driver of Ripple’s broader blockchain adoption strategy.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
