RLUSD (Ripple USD Stablecoin)
assetCrypto & Digital ID
A crypto dollar backed by US Treasuries is built from the ground up so the government can freeze or destroy your coins.
Who they are
RLUSD, Ripple's US-dollar-backed stablecoin launched in late 2024.
What they do
The engine notes it as a fully-reserved digital dollar designed to comply with government control rules.
How it works
As of late April 2026 it had about $1.489 billion in circulation against $1.590 billion in reserves, held 100% in short-term US Treasuries and cash and verified monthly by Deloitte, custodied at BNY Mellon and issued through Ripple's NYDFS-chartered subsidiary; crucially, it's built to obey the GENIUS Act's freeze, seize, and burn requirements.
Why it matters
It matters because this 'stable' digital dollar comes with built-in switches letting authorities freeze or wipe out holdings, control baked into the design.
The engine's record — word for word
Ripple US-dollar-backed stablecoin launched late 2024 with NYDFS approval. Circulating supply $1.489B / reserves $1.590B (late April 2026). Reserves 100% short-term US Treasuries + cash equivalents per Deloitte monthly attestations. Custodian: BNY Mellon ($53.1T total custody) — selected July 2025. Issuer: Standard Custody & Trust Company (Ripple subsidiary, NYDFS-chartered). Architecturally compliant with GENIUS Act freeze/seize/burn mandate.
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