- RLUSD’s supply hit 243 million after minting 50 million tokens in one day, its largest single issuance to date.
- It trails PayPal’s PYUSD ($720 million) but aims to climb rankings through controlled supply adjustments.
Ripple USD (RLUSD), a stablecoin active for just over three months, has surpassed 243 million tokens in circulation, according to CoinMarketCap.
The figure, updated as of April 2025, follows a single-day creation of 50 million RLUSD on March 31—the largest one-time issuance since its launch. While Ripple has not publicly detailed the reason behind this surge, ETHNews analysts suggest it reflects efforts to match user demand as adoption expands.
The stablecoin’s supply crossed 240 million in late March, a jump tied directly to the March 31 minting event. Prior to this, Ripple had paused new token creation for four days in early March, a tactic viewed as a method to stabilize supply against fluctuating demand. The company has not confirmed this strategy, but the pattern aligns with its measured approach to entering the crowded stablecoin sector.
Stablecoins should be trusted, compliance-first, and built for real-world finance—RLUSD is setting the standard.
Now live in Ripple Payments, RLUSD powers enterprise payments, asset tokenization & DeFi: https://t.co/kWNmSlp3O3
📈 Nearing $250M market cap
📶 $10B+ in trading…— Ripple (@Ripple) April 2, 2025
RLUSD’s current circulation of $243 million places it far behind leaders like Tether ($144 billion) and Circle’s USDC ($60 billion). However, it positions the token closer to PayPal’s PYUSD, which holds a $720 million valuation.
Closing this gap would require steady growth, a challenge Ripple appears prepared to tackle. CEO Brad Garlinghouse has publicly targeted a spot among the top five stablecoins by the end of 2025, though specifics on how this will be achieved remain undisclosed.
The stablecoin market, dominated by long-standing players, leaves little room for error. Ripple’s cautious minting habits—alternating between rapid issuance and deliberate pauses—hint at a focus on avoiding oversupply while building trust. Unlike competitors that maintain near-constant token production, RLUSD’s irregular minting schedule suggests a tailored response to real-time usage data rather than speculative forecasting.
For now, RLUSD’s progress hinges on balancing accessibility with restraint. Its early trajectory shows deliberate steps rather than aggressive expansion, a contrast to the rapid scaling seen in other digital assets. Whether this approach can carve a durable niche in a market ruled by giants will depend on sustained user adoption—and Ripple’s ability to adapt without overreaching.
