Ripple’s $2.6 Billion RLUSD Supply Grows on Ethereum, Not XRP Ledger
Ripple CEO Brad Garlinghouse said RLUSD is not competing with XRP and that he wants its use cases on the XRP Ledger, although roughly two-thirds of the stablecoin’s supply is on Ethereum. About $1.72 billion of roughly $2.57 billion in circulation is on Ethereum, versus about $850 million on the XRP Ledger, according to BeInCrypto, citing DefiLlama data. RLUSD supply on Ethereum grew by about a third over the past month as supply on the XRP Ledger fell by nearly the same share; Ripple has not explained the shift. RLUSD’s market cap has risen more than 88% this year, and a new national trust bank charter covers its reserves.