RLUSD, issued by Standard Custody & Trust Company, LLC, is a U.S. dollar-pegged payment stablecoin that maintains a constant value of one U.S. dollar (USD) and is fully backed one-to-one by a segregated reserve of cash and cash equivalents [S1][S2].

Each RLUSD tracks the U.S. dollar (USD) at a one-to-one peg, redeemable for one USD by Customers [S3][S2]. The token maintains a constant value of one USD and is not structured to increase in value, generate returns, or create profit for Users; no yield is passed to holders, as Ripple retains net returns earned on reserve assets to the extent not required to maintain the reserve minimum [S3][S2]. Redemption occurs less fees [S3].

Standard Custody & Trust Company, LLC, a New York limited purpose trust company chartered and supervised by the New York State Department of Financial Services (NYDFS), issues RLUSD subject to NYDFS reserve and customer protection requirements [S1][S2]. Each token is redeemable for one USD with Ripple but conveys no property interest in, or right to withdraw, reserve assets [S3]. Users must be at least 18, cannot be Restricted Persons, must clear identity verification (KYC), and must not violate sanctions laws [S3]. Only Customers under the RLUSD Customer Agreement may redeem directly with Ripple [S3].

RLUSD is natively issued onchain on the XRP Ledger (XRPL) and Ethereum, with expansion to additional networks [S1][S2]. Tokens maintain one-to-one redemption backed by segregated reserves custodied primarily at The Bank of New York Mellon Corporation, with reserve transparency provided via monthly independent CPA attestations published within 30 days after month end [S1][S2].

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  retrievedAt="2026-06-19"
  items={[
    { id: "S1", url: "https://ripple.com/solutions/stablecoin/transparency/" },
    { id: "S2", url: "https://ripple.com/solutions/stablecoin/" },
    { id: "S3", url: "https://ripple.com/legal/stablecoin/" },
  ]}
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Stablecoins

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Stablecoin issuers

Ripple

Ripple USD (RLUSD) is a U.S. dollar stablecoin issued by Ripple through Standard Custody & Trust Company, LLC.

Each token is redeemable one-for-one for U.S. dollars and is a direct claim on the issuer.

Reserves are held in bank deposits, Treasury bills, repurchase agreements, and money market funds, in accounts segregated from the issuer's own funds.

They sit with The Bank of New York Mellon Corporation (BNY), attested monthly by Deloitte.

Institutions can mint and redeem directly with Ripple in USD after completing KYC, and holders have a contractual right to redeem at par.

Standard Custody & Trust Company, LLC operates under a U.S. state trust charter and is supervised by the New York State Department of Financial Services (NYDFS).

Holder terms are governed by the law of New York in the United States.

RLUSD has been issued on public blockchains since August 2024 and is native to XRP Ledger and Ethereum.

Ripple USDRLUSD