RLUSD Reaches $1.3B Supply, Japan Launch Anticipated

Ripple's RLUSD stablecoin has reached $1.3 billion in total supply, with the anticipated Japan launch expected to drive significant institutional volume in Q1 2026.

Key Highlights

• -$1.3 billion total RLUSD supply across XRPL and Ethereum
• -$293 million on XRPL specifically, up 41% in 30 days
• -Japan launch expected to drive 40%+ institutional volume increase
• -Regulated by New York Department of Financial Services

Institutional Pilots

Ripple is piloting RLUSD with major partners including Mastercard, WebBank, and Gemini for on-chain settlement. The stablecoin is also being tested on Layer 2 networks like Optimism and Base via Wormhole's NTT standard, expanding its cross-chain capabilities.

Japan Market Opportunity

Japan represents a strategic market for RLUSD. Initial market reactions to the launch announcement have been overwhelmingly positive, with Japanese institutional volume on XRPL increasing by an estimated 40% in Q4 2025. SBI Ripple Asia's partnership network provides established distribution channels.

National Bank Charter

Ripple applied for a National Bank Charter in July and received conditional approval in December. This positions RLUSD to become the "benchmark for trust" in the stablecoin market, competing directly with Circle's USDC on regulatory credibility.

What This Means

RLUSD represents Ripple's strategy to capture stablecoin market share while driving XRPL utility. Every RLUSD transaction adds to network activity and demonstrates real-world usage beyond speculation. The Japan launch could be a pivotal moment for XRPL adoption in the world's third-largest economy.