- Ripple has now put over 1.261 billion RLUSD stablecoins into circulation, including 1.026 billion on Ethereum alone.
- Abu Dhabi’s regulator has now approved RLUSD in the Emirates, strengthening Ripple’s presence in the Middle East.
Ripple’s stablecoin RLUSD reached a supply of $1.026 billion on Ethereum as of November 28, less than a year after its launch in December 2024, bringing the total supply of RLUSD to $1.261 billion. The Ripple stablecoin is now in 13th place among dollar-based stablecoins.
RLUSD is issued by Standard Custody & Trust Company, a Ripple-affiliated trust company based in New York. Unlike many others on the market, it was developed with a regulatory focus from the start, which helped launch it smoothly into the market.
VAR allows RLUSD
Am 27. November approved Abu Dhabi’s financial regulator recognized RLUSD as an accepted fiat-referenced payment currency for the United Arab Emirates. Jack McDonald, Senior Vice President of Stablecoins at Ripple, commented:
“The FSRA’s recognition of RLUSD as a fiat-referenced token underscores our commitment to regulatory compliance and trust,” two non-negotiable factors when it comes to institutional finance.”
The approval expands Ripple’s presence in the Middle East. The company also partnered with Bahrain Fintech Bay, a fintech incubator in Manama. The collaboration aims to build crypto infrastructure in Bahrain and further regional expansion.
Ripple is also preparing for major expansion in Europe by applying for an “e-money institution” license under MiCAR (Markets in Crypto-Asset-Regulation). If the license is granted, Ripple will be able to offer digital payment and money transfer services in all countries in the EEA, which will also apply to the RLUSD.
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