Ripple’s RLUSD Circulating Supply Surpasses $2.4 Billion

Ripple USD (RLUSD) has surpassed $2.4 billion in circulating supply, according to updated company figures. A recent executive update also reported that the stablecoin’s market capitalization grew by more than 50% over the past month as activity, exchange liquidity and payment-related use cases expanded.

Supply Growth and Reserve Attestation

Ripple’s latest August attestation provides updated information on the assets backing RLUSD. The stablecoin is designed to maintain a value of one U.S. dollar and is issued on the XRP Ledger and Ethereum networks.

The increase in circulating supply reflects additional RLUSD issuance and growing demand across digital-asset markets. Reserve attestations are intended to provide transparency into the assets supporting the stablecoin, although they do not eliminate the risks associated with digital-asset markets.

Daily Activity More Than Triples

Ripple said daily activity involving RLUSD has more than tripled. The company also pointed to increased exchange liquidity, which can support trading and settlement activity involving the stablecoin.

Stablecoins are widely used in cryptocurrency markets to facilitate trading, transfers and settlement without direct exposure to the price volatility of assets such as bitcoin and ether. Growth in supply and transaction activity can indicate broader usage, though it does not by itself establish long-term adoption.

Expansion Into Artificial Intelligence Payments

Ripple’s update also highlighted tools intended to support payments involving artificial intelligence applications. Such systems could use stablecoins for automated transactions between software agents, services and users.

RLUSD’s continued expansion will depend on factors including reserve transparency, regulatory developments, exchange support and demand for stablecoin-based payments.