Ripple USD

Ripple USD (RLUSD) is a fiat-backed stablecoin issued by Standard Custody & Trust Company, LLC, a wholly owned subsidiary of Ripple Labs, designed to maintain a value of one US dollar at all times. It is intended for cross-border payments and is aimed at financial institutions, enterprises, and developers who need reliable, compliant access to digital dollars. Each token is backed by at least an equivalent amount of US dollars and other cash equivalents held in reserve.

RLUSD is issued by a regulated custodial entity, meaning that for every token in circulation a corresponding dollar-denominated reserve is maintained, which is how the peg is sustained rather than through algorithmic means. The token operates on both the Ethereum blockchain and the XRP Ledger, giving it settlement infrastructure on two distinct networks. No consensus algorithm is stored for RLUSD itself because it is a token that rides on top of existing blockchains rather than operating its own.

The data stored for RLUSD contains no fee stream, revenue figures, or protocol earnings, which means fee-based measures commonly found on this site — such as fee yield or revenue multiples — are not applicable here. Stablecoin issuers of this type typically generate income from yields earned on the reserves backing the tokens, but that information is not present in the data provided. The circulating supply stands at approximately 2.108 billion tokens at this point in time, and the 30-day change in stablecoin supply is recorded at roughly 32.93 percent over the last 30 days, reflecting how quickly the outstanding token count has grown.