XRP News Today: Regulators and Institutions Race to Define the Future of Stablecoin Finance

Ripple’s RLUSD is gaining traction in the institutional and financial markets, with the stablecoin recently playing a pivotal role in Wall Street’s first major blockchain-based IPO settlement. On August 19, crypto exchange Bullish announced that a portion of the $1.15 billion raised in its IPO was settled using Ripple’s RLUSD, alongside other stablecoins like Circle’s USDC and USD Coin (USDC). This move underscored the growing integration of stablecoins in real-world financial operations, particularly in capital markets where speed, transparency, and reduced settlement risks are essential. Bullish’s CFO, David Bonanno, emphasized that blockchain-based stablecoins enable near-instant settlements, a critical advantage for institutional investors and firms seeking to modernize their capital management strategies. The settlement was coordinated through multiple networks, including Solana, with Jefferies acting as the billing and delivery agent, and proceeds transferred to Coinbase for custody.

RLUSD, issued by Standard Custody & Trust Company, a subsidiary of Ripple Labs, is a U.S. dollar-backed stablecoin designed to support cross-border payments and tokenized financial services. It is currently being used on both the XRP Ledger and Ethereum blockchains, with fast transaction speeds and low fees. Ripple announced its plans for RLUSD in April 2024, received regulatory approval from the New York Department of Financial Services (NYDFS) in December 2024, and began beta testing in August of the same year. The stablecoin's launch aligns with broader regulatory shifts, including the Securities and Exchange Commission’s (SEC) increasing openness to crypto and President Donald Trump’s advocacy for fewer restrictions on digital assets. Notably, RLUSD is the first stablecoin to be directly integrated into an IPO process, reflecting its growing institutional adoption.

Ripple’s strategy for RLUSD includes targeting institutional and banking clients rather than focusing solely on retail users. The company has acquired Rail, a stablecoin technology firm that handles over 10% of global B2B stablecoin transactions, for $200 million. Additionally, Ripple has partnered with BNY Mellon to custody RLUSD reserves and has integrated Chainlink’s pricing standard for enhanced data verification. These moves position RLUSD as a secure and compliant alternative to existing stablecoins like USDC, which also uses BNY Mellon as a custodian. The firm’s recent $1.25 billion acquisition of multi-asset prime brokerage Hidden Road further strengthens its infrastructure for clearing and financing in tokenized markets.

Market data indicates a steady rise in RLUSD’s adoption and usage. As of late 2025, RLUSD’s market capitalization stands at approximately $666.6 million, with a 24-hour trading volume of $192 million. The stablecoin is actively traded on platforms such as Bullish, Curve (Ethereum), and Uniswap V3 (Ethereum), with the most active pair being XRP/RLUSD. RLUSD is also part of Ripple’s $75 million credit facility for Gemini, which has the option to increase the line of credit to $150 million based on performance metrics. This financial backing highlights the growing confidence in RLUSD among key players in the crypto ecosystem.

Looking ahead, RLUSD’s potential to become a major player in the stablecoin market depends on its ability to differentiate itself from competitors like USDC and USDT. Ripple has positioned RLUSD as a dual-state and federally compliant stablecoin, with ongoing efforts to secure a national banking charter. If granted, this would make RLUSD the first stablecoin with both state and federal oversight, potentially establishing a new benchmark for trust and regulatory alignment in the space. As institutional adoption continues and regulatory clarity improves, RLUSD is well-positioned to expand its footprint in both B2B and broader financial markets.

Source: [1] Ripple USD Price Chart (RLUSD) (https://www.coingecko.com/en/coins/ripple-usd) [2] Ripple USD, Chart, & Supply Details - RLUSD Price - Gemini (https://www.gemini.com/prices/ripple-usd) [3] If You Like XRP, Here's A Major Reason To Buy The Ripple ... (https://www.barchart.com/story/news/34255210/if-you-like-xrp-heres-a-major-reason-to-buy-the-ripple-stablecoin) [4] Ripple's RLUSD gains institutional traction in Bullish IPO ... (https://cryptoslate.com/ripples-rlusd-and-donald-trump-linked-usd1-used-in-bullishs-1-1-billion-ipo-settlement/) [5] Safest Stablecoin in 2025: USDC vs USDT, EURC and USDe (https://www.datawallet.com/crypto/what-is-the-safest-stablecoin)