Ripple Targets Corporate Treasury Market for RLUSD Stablecoin

Jack McDonald, head of Ripple’s stablecoin division, identified the firm’s treasury-management business—bolstered by the 2025 acquisition of GTreasury—as the central distribution channel for RLUSD. The platform currently allows corporate users to manage cash visibility and payments, providing a gateway to integrate digital assets alongside traditional banking rails. Although the $13 trillion transaction volume serves as a benchmark for potential adoption, Ripple has not secured formal commitments from these clients to migrate their existing wire transfers or bank deposits to the stablecoin.

RLUSD has seen rapid expansion, with circulating supply growing over 50% in a single month to reach $2.4 billion. Currently, $1.4 billion of the supply resides on Ethereum, while $1 billion is held on the XRP Ledger. Daily activity for the token climbed to approximately $750 million in August, signaling a shift toward utility-focused usage in payments and collateral. Beyond treasury management, Ripple is leveraging its prime-brokerage arm, Ripple Prime, to integrate the token into clearing and financing workflows.

Looking toward international expansion, the company is pursuing a dual-issuance structure to meet the European Union’s Markets in Crypto-Assets (MiCA) requirements. While Ripple secured an Electronic Money Institution license in Luxembourg, the firm must still clear specific stablecoin regulatory hurdles before offering RLUSD within the bloc. Meanwhile, the company is preparing to extend the token’s reach to networks including Base, Ink, and Optimism, prioritizing chains with institutional demand over retail-focused ecosystems.