RLUSD surpasses $300M supply as Ripple secures UAE backing

Ripple’s stablecoin RLUSD expanded its circulating supply by 29% in the week ended June 8, adding $72.5 million and closing at $320.6 million.

The movement marks the first time the token’s float crossed the $300 million threshold. Additionally, it represents a sixfold increase since the launch of RLUSD on Dec. 17, 2024.

Data from Artemis shows the additional issuance coincided with a 38% increase in weekly transfer volume, which climbed to $648.1 million from $469.7 million seven days earlier. 

It is close to the weekly transfer volume peak registered between April 21 and 27, when users moved $741 million using RLUSD.

Yet, the token accounts for roughly 0.1% of the $236 billion stablecoin market. USDT, the largest dollar-pegged stablecoin, grew 0.57% to $157.9 billion, while USDC edged 0.33% lower to $59.6 billion. 

Smaller issuers such as PYUSD and USDS posted single-digit percentage gains.

Ripple mints RLUSD under a New York trust-company license and records each token against short-term Treasurys and cash held in regulated accounts. 

The company burned no tokens during the measurement window, indicating net new creation rather than re-issuance of previously redeemed supply.

UAE approval opens new distribution channel

The fresh issuance arrived days after the Dubai Financial Services Authority approved RLUSD for use inside the Dubai International Financial Centre. 

Ripple plans to integrate the stablecoin with its DFSA-licensed payments platform, enabling up to 7,000 locally regulated firms to settle transactions in the token.

Ripple’s managing director for the Middle East and Africa, Reece Merrick, said demand for digital-asset settlement and custody is growing “fast across the region” and called the UAE’s digital economy “vibrant and dynamic.” 

The DFSA nod grants RLUSD both US and international regulatory recognition, positioning the coin alongside USDT and USDC, which already operate in the emirate.

The stablecoin is also in Ripple’s roadmap following the acquisition of the prime brokerage platform Hidden Road. The crypto firm will integrate RLUSD into Hidden Road’s services as part of its $1.25 billion deal.

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