Ripple USD
RLUSD#39RLUSD is the regulated US dollar stablecoin issued by Ripple.
- Market cap
- $2.5B
- Volume 24h
- $266.82M
- All-time high
- —
- Circulating supply
- 2.5B
Passes our Shariah screening. Needs caution: nature of the asset and usage. Fails: business model.
- 5 pass
- 2 caution
- 1 fail
Verdict history
- HalalCurrent
First publication
Fundamentals, market picture and news will appear here.
About Ripple USD
RLUSD is the regulated US dollar stablecoin issued by Ripple.
Ripple USD (RLUSD) is a digital token designed to keep a stable value of one US dollar. It is issued by Standard Custody & Trust Company, a New York limited purpose trust company owned by Ripple Labs and supervised by the New York Department of Financial Services (NYDFS). RLUSD launched on 17 December 2024 and runs on the XRP Ledger and Ethereum, with several other networks approved by the regulator.
RLUSD has no fixed supply. Ripple creates tokens when approved business customers deposit dollars and destroys them on redemption at US$1 each; ordinary users buy and sell it through exchanges and partners. The reserve is kept separate from the issuer's own assets. At 31 July 2026 it held US$1.575 billion against 1.464 billion tokens, examined by the accounting firm Deloitte: about 68% in short-term US Treasury bills, 16% in government money-market funds and 15% in bank deposits. Supply has grown quickly since, to about US$2.49 billion on 27 September 2026.
RLUSD is aimed mainly at institutions: cross-border payments and settlement through Ripple's products, collateral, and trading on exchanges. Regulators in the Dubai International Financial Centre (June 2025) and Abu Dhabi Global Market (November 2025) have recognised it for use by firms they license, and in December 2025 the US bank regulator OCC conditionally approved Ripple's application to open a national trust bank.
Holders receive no interest: the terms give them no share of, or property right in, the reserve, and the income from the reserve stays with the issuer. Like other regulated stablecoins, Ripple can freeze addresses and burn tokens.
Sources · 8
- Ripple launches its RLUSD stablecoin today (Ledger Insights)
- RLUSD Reserve Report, July 2026, with Deloitte & Touche LLP independent accountant's report
- Ripple USD (RLUSD) Terms of Use
- RLUSD overview (Ripple Docs)
- CoinGecko API: Ripple USD
- RLUSD Approved by the Dubai Financial Services Authority as Recognised Crypto Token (Ripple)
- Ripple's RLUSD recognized as Accepted Fiat-Referenced Token for use within Abu Dhabi's ADGM (Ripple)
- OCC Announces Conditional Approvals for Five National Trust Bank Charter Applications (OCC)
AI-assisted analysis checked against sources. Not a fatwa or investment advice.
Key facts
- Launched
- Dec 17, 2024
- Whitepaper
- ripple.com/reports/rlusd-whitepaper.pdf
- Issuer
- Standard Custody & Trust Company, LLC
- Consensus
- Hosted by a company
What it is used for
- Cross-border payments and settlement between businesses
- Holding a dollar balance on the XRP Ledger or Ethereum
- Collateral for regulated institutions
- Trading pairs on crypto exchanges
Market data
- Market cap
- $2.5BRank #39
- Fully diluted value
- —
- Volume 24h
- $266.82M10.66% of market cap
- Total supply
- 2.5B RLUSDIssued so far
- All-time high
- —
- All-time low
- —
- Circulating supply
- 2.5B RLUSD
- Max supply
- —No fixed cap
Where it trades
Section in preparation
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