RLUSD Explodes 47% in June: What’s Fueling Ripple’s Stablecoin Surge?

Ripple’s USD‑pegged stablecoin, RLUSD, has experienced explosive growth; its circulating supply surged by roughly 47% in June alone, from approximately $300 million to $455 million by early July. Supported by full reserves and regulatory approvals in New York and Dubai, RLUSD is gaining meaningful traction across the U.S. and the Middle East. Here’s how Ripple’s strategy is advancing its stablecoin ambitions and what that means for crypto markets.

Riding the RLUSD Wave: Supply and Adoption

In June 2025, RLUSD saw the fastest growth among major stablecoins, with supply climbing nearly 47% to $455 million. Earlier data in the month showed its float surpassing $300 million, backed by a 38% weekly rise in transfer volume to over $648 million. By July 9, the circulating supply crossed the $500 million mark just seven months after launching in December 2024.

These figures underscore a strong resonance with retail and institutional users, especially those seeking regulated digital dollars that deliver transparency, fast settlement, and reserve backing with high‑quality liquid assets and cash.

Institutional Trust: BNY Mellon and NYDFS Charter

Adding to RLUSD’s credibility, Ripple appointed Bank of New York Mellon (BNY Mellon), a $43 trillion‑asset custodian, as the primary overseer of RLUSD’s reserves. This custody partnership, unveiled in early July, supports Ripple’s bid for a U.S. national trust‑bank charter.

RLUSD is issued under a New York Department of Financial Services (NYDFS) Trust Company Charter, ensuring a 1:1 dollar peg backed by liquid assets, regular third‑party audits, and strict segregation of user assets. Such institutional safeguards are reinforcing confidence in its legitimacy and long‑term utility.

Middle East Momentum: Dubai Approval & Real‑Estate Tokenization

Ripple’s global agenda also includes deepening roots in Dubai. In early June, the Dubai Financial Services Authority (DFSA) approved RLUSD for use within the Dubai International Financial Centre (DIFC), opening access to nearly 7,000 regional firms.

Beyond payments and treasury operations, RLUSD has been selected to participate in Dubai Land Department’s pilot real‑estate tokenization initiative on the XRP Ledger. Ripple has collaborated with local fintechs such as Zand Bank, Mamo, and Ctrl Alt to streamline cross‑border transactions, institutional custody, and asset tokenization.

This dual‑continent strategy, leveraging U.S. banking trust and DIFC access, positions RLUSD as a regulated bridge between classic finance and blockchain-powered ecosystems.

Why RLUSD Is Gaining So Fast

1. Regulatory credibility: NYDFS charter plus DFSA approval give RLUSD rare legitimacy in multiple jurisdictions.
2. Reserve transparency: 100% backing via high‑quality liquid assets, audited and securely custodied by BNY Mellon.
3. Cross‑chain deployment: Available on both the XRP Ledger and Ethereum, with Ethereum handling ~$390 million of the total supply, capitalizing on its DeFi liquidity.
4. Utility over speculation: Designed primarily for payments, treasury management, remittances, and tokenized real estate, not trading.
5. Strategic partnerships: Integrations with global and regional institutions strengthen retail and enterprise adoption.

Market Outlook: RLUSD vs the Big Players

With $500 million in circulation, RLUSD is in the top 20 USD‑pegged stablecoins. While its market share remains tiny compared to USDT’s $158 billion or USDC’s $59 billion, its rapid ascent signals that compliance-first tokens can carve out a niche. Especially appealing to corporates and governments, RLUSD’s blend of transparency, regulation, and utility could redefine standards in institutional stablecoin adoption.

Conclusion

Ripple’s RLUSD has ignited a notable stablecoin surge driven by supply growth of ~47% in June, regulatory endorsements in New York and Dubai, and robust institutional partnerships like BNY Mellon. Ripple’s twin-pronged approach, anchored in global compliance and enterprise use cases, positions RLUSD as a new standard in stablecoins.