TL;DR:
- The circulating supply of the RLUSD stablecoin on the XRP Ledger network reached $1,024,222,594 as of August 28, 2026.
- Operations recorded the issuance of 63.1 million tokens and the burning of 14.4 million units over a 48-hour period.
- The total market capitalization of RLUSD, distributed between XRP Ledger and Ethereum, exceeded $2.091 billion.
During Friday’s session, the Ripple USD stablecoin achieved a historic operational milestone. This feat comes right after the RLUSD supply crossed the $1 billion threshold on the XRPL network.
💵💵💵💵💵💵💵 19,900,000 $RLUSD minted at RLUSD Treasury.https://t.co/WOrtuh9H0X
— Ripple Stablecoin Tracker (@RL_Tracker) August 28, 2026
On-chain records documented by the Ripple Stablecoin Tracker tracking portal placed the circulating volume at $1,024,222,594. According to market reports, this movement reflects an acceleration in the direct liquidity provision channeled by the issuing company toward its main network.
Activity on the network’s ledgers showed a notable surge between Thursday and Friday of this week. On Thursday, August 27, 26.2 million units were minted and 6.9 million were destroyed. During the early hours of August 28, the treasury issued an additional 36.9 million RLUSD and retired 7.5 million through burning processes.
Data from the tracking platform indicated that the Ripple treasury executed three prominent minting transfers in the last 24 hours. These transactions comprised a block of 19.9 million tokens and two parallel operations of 10 million each.
Multichannel Issuance Dynamics and Ecosystem Distribution
The figure reached on the XRP Ledger accounts for approximately half of the asset’s global inventory. Data from CoinMarketCap indicated that the aggregate market cap of RLUSD stood at $2,091,648,295 as of the close of August 26.
Since its operational rollout in December 2024, the asset was designed with a dual technical structure split between the Ethereum network and Ripple’s settlement layer. In this regard, some analysts argue that the progressive concentration of liquidity within the XRP Ledger could optimize institutional exchange flows and facilitate trading pairs on the native decentralized protocol.
The increase in circulating volume coincided with significant variations in the distributed ledger’s transactional volumes. In early August 2026, daily payment volume between accounts on the XRP Ledger temporarily exceeded 1 billion XRP before stabilizing near 100 million daily. According to technical market observations, these fluctuations reflect corporate transfers and treasury rebalancings typical of collateral deployment.
On the compliance front, RLUSD operates under the fiduciary standards of the New York State Department of Financial Services (NYDFS), backed 100% by US dollar cash deposits, short-term US Treasury bills, and cash equivalents. Monthly attestation reports continue to be published by independent auditing firms to verify the asset’s one-to-one parity across both chains.
The growth in supply also aligns with the recent incorporation of advanced capabilities into the protocol. Ripple documentation describes that automated market maker (AMM) functions and compliance amendments integrated into the ledger provide the foundational infrastructure for financial institutions to settle cross-border payments using stable assets.
For the upcoming days of the September 2026 financial calendar, Ripple’s treasury is scheduled to release its consolidated monthly reserves report, detailing the audited breakdown of financial backing after crossing the $2 billion mark in total issuance.
