Ripple Flags Corporate Treasury as RLUSD Supply Expands
Ripple Flags Corporate Treasury as RLUSD Supply Expands
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- The main variable to watch is whether Ripple can turn treasury software distribution into actual RLUSD usage rather than headline reach. McDonald tied the opportunity to Ripple Treasury’s reported access to about 1,200 corporate treasurers and CFOs.
- Cross-chain supply also matters. With roughly $1 billion on the XRP Ledger and $1.4 billion on Ethereum, future usage could depend on where institutions prefer to settle, hold collateral, or integrate treasury workflows.
- Follow-through in payments and capital markets will be more important than supply growth alone. Ripple is positioning RLUSD for institutional use cases, so adoption signals will likely come from treasury operations, tokenized fund activity, and lending-related integrations.
Ripple stablecoin executive Jack McDonald said RLUSD’s next growth opportunity is corporate treasury, as the token’s circulating supply rose to about $2.4 billion and activity increased across the XRP Ledger and Ethereum.
McDonald, Ripple’s senior vice president for stablecoins, said corporate treasury represents a significant expansion path for RLUSD. He linked that opportunity to Ripple’s acquisition of financial management software provider GTreasury, which he said has given Ripple Treasury access to around 1,200 corporate treasurers and CFO clients handling about $13 trillion in transactions annually.
According to McDonald, RLUSD’s circulating supply has grown by more than 50% over the past month. He said roughly $1 billion of supply is on the XRP Ledger and about $1.4 billion is on Ethereum, highlighting Ripple’s dual-chain distribution strategy for the stablecoin.
Ripple also said RLUSD’s daily active volume has more than doubled since the start of the year. McDonald said activity rose from about $200 million last month to around $750 million. The company identified payments and capital markets as RLUSD’s two main application areas at this stage.
On the institutional side, Ripple said it is working with firms including Franklin Templeton and DBS in tokenized money market funds and lending. The company did not disclose additional details on transaction structure, deployment scale, or how quickly those relationships could translate into broader RLUSD usage in treasury operations.
Why It Matters
The update shows Ripple is framing RLUSD less as a retail trading product and more as infrastructure for institutional cash management, payments, and tokenized finance. That places the stablecoin in a more competitive part of the market, where distribution, settlement preferences, and enterprise integration can matter as much as issuance growth.
It also points to a broader shift in stablecoin strategy. Rather than competing only through exchange liquidity or crypto-native transfers, issuers are increasingly trying to embed stablecoins into treasury systems and tokenized capital markets. If that model gains traction, adoption could be driven by software workflows and institutional finance channels as much as by on-chain trading demand.
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