stable coins
By Bruce Buterin
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RLUSD Tightens Its Grip on XRPL. What's interesting here is that RLUSD's dominance on the ledger actually grew.
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USDV's Permissioned Model and Pending Attestations. Valtorum's USDV takes a different approach. It's a permissioned token — only pre-approved wallets…
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What the Numbers Actually Need to Do. There are a few things worth watching to figure out whether XRPL's stablecoin surge is real or…
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Stablecoins on the XRP Ledger just crossed $890 million. That's a 20.56% jump in a single month, and pretty much one token is driving the whole thing.
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Ripple's RLUSD sits at $844.58 million of that total, which works out to 94.9% of everything on the ledger. The second-largest player is Valtorum's USDV, clocking in at $39.
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What's interesting here is that RLUSD's dominance on the ledger actually grew. The XRPL now hosts 51.7% of the total RLUSD supply, up from a month ago.
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The global stablecoin market, meanwhile, went the other direction — falling to $311.39 billion. XRPL's $890 million represents roughly 0.29% of that total. Tiny in absolute terms.
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Ripple has been pretty open about what it wants RLUSD to do. The company positioned the token for payments, remittances, and treasury flows, using corridor partnerships to push…
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Actual payment activity on the ledger remains low. Daily decentralized exchange volumes and chain fees are modest, which means a lot of that $890 million is sitting rather than…
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Related: Coinbase July Update Targets Trading, Payments, AI, and Stablecoins in One Push
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The reserve model for USDV is broader than a standard fiat-backed stablecoin. Per Valtorum's litepaper, the framework can incorporate stablecoins, hard assets, bonds, Treasuries,…
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The bigger issue for USDV is reserve attestations. They're not live yet. That's a transparency gap, and for an institutional-focused product, that matters.
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If USDV's supply climbs toward $100 million, that would suggest real scaling rather than just preparation. Right now at $39.3 million, it's hard to tell which one it is.
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Transfer volume is the big one. Supply numbers can sit on a ledger indefinitely without doing much. If volume picks up meaningfully, that changes the story.
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Related: Russian Stablecoin A7A5 Says Data Firms Are Undercounting Its Billions in Trades
The Currency Analytics
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