Stablecoin dossierReturn to register
Record sog_st_rlusd
RLUSD/Ripple USD
Also recorded as RLUSD, Ripple USD
- Lifecycle
- Active
- Issuance
- Restricted
- Reference target
- US dollar
- Primary organization
- RippleNo additional recorded relationship
- Launch
- 2024-12-17
- Redemption
- Eligible Customers Only
- Backing
- Fiat and cash equivalents
- Stabilization
- Issuer redemption
- Last review
- 2026-06-05
- Evidence
- 8 source records
Reviewed assessment
Identity and current state
This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.A US dollar stablecoin launched by Ripple, with issuer reserve and redemption arrangements tied to Ripple and its service providers.
| Name | Ripple USD |
|---|---|
| Symbol | RLUSD |
| Aliases | RLUSD, Ripple USD |
| Asset class | Stablecoin |
| Lifecycle status | Active |
| Issuance status | Restricted |
| Canonical record ID | sog_st_rlusd |
| Route slug | rlusd |
| Record confidence | Medium |
| Last reviewed | 2026-06-05 |
- Name
- Ripple USD
- Symbol
- RLUSD
- Aliases
- RLUSD, Ripple USD
- Asset class
- Stablecoin
- Lifecycle status
- Active
- Issuance status
- Restricted
- Canonical record ID
sog_st_rlusd- Route slug
rlusd- Record confidence
- Medium
- Last reviewed
- 2026-06-05
Record coverage
| Section | Entries |
|---|---|
| Organizations | 1 |
| Sources | 8 |
| Reserve reports | 2 |
| Reserve components | 1 |
| Model-history events | 1 |
| Regulatory notes | 0 |
| Deployments | 2 |
| Issuer-control actions | 0 |
| Open questions | 3 |
| Events | 2 |
Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.
- Governance
- Centralized
- Primary display organization
- Ripple
- Primary display role
- Legal issuer
- Display selection mode
- Deterministic Policy
- Current relationships
- 1
- Ended relationships
- 0
- Unknown relationship state
- 0
- Freeze capability
- 0 recorded yes · 0 recorded no · 2 not recorded
- Blacklist capability
- 0 recorded yes · 0 recorded no · 2 not recorded
- Deployment control-event references
- 0
- Observed issuer-control events
- 0
- Relationship coverage
- 1 recorded relationship
| Organization | Organization category | Regulatory character | Jurisdiction | Role | Display priority | From | Until | Relationship status |
|---|---|---|---|---|---|---|---|---|
| Ripple | Company or corporate group | Not recorded in canonical data | United States | Legal issuer | Primary display | Not yet recorded | Not yet recorded | Active relationship |
Company or corporate group
Primary displayRipple
- Functional role
- Legal issuer
- Relationship status
- Active relationship
- Regulatory character
- Not recorded in canonical data
- Jurisdiction
- United States
- From
- Not recorded
- Until
- Not recorded
Mechanism
How the asset works
Reference, backing, stabilization, exit, valuation, and yield remain separate facts.- Reference target
- US dollar
- Reference kind
- Fiat
- Comparison category
- US dollar
- Target value
- 1
- Reference methodology
- Targets a US dollar reference value unless the record documents a different target value.
- Public backing model
- Fiat and cash equivalents
- Canonical backing types
- Mixed
- Reserve component categories
- Unknown
- Primary stabilization mechanism
- Issuer redemption
- Recorded model description
- Fiat-backed
- Redemption / exit model
- Eligible Customers Only
- Valuation source
- Public information is incomplete
- Yield / rebase profile
- None recorded
- Classification notes
- Not recorded
Reserve and redemption
Reserve and redemption
Recorded components, disclosures, reports, and redemption conditions remain explicit.Reserve components
- Mixed backing; component breakdown unresolvedUnknown after review
| Disclosure status | Available |
|---|---|
| Backing types | Mixed |
| Summary | Ripple reserve transparency and attestation records are tracked separately as historical records. |
| As of | 2026-06-05 |
| Profile confidence | Medium |
- Disclosure status
- Available
- Backing types
- Mixed
- Summary
- Ripple reserve transparency and attestation records are tracked separately as historical records.
- As of
- 2026-06-05
- Profile confidence
- Medium
| Current status | Eligible Customers Only |
|---|---|
| Settlement asset | USD |
| Eligible parties | RLUSD holders who are eligible to become, and do become, Ripple customers under the applicable customer agreement. |
| Retail access | Indirect or Customer Onboarding Required |
| Institutional access | Available Through Ripple Mint Subject to Customer Agreement |
| Minimum amount | Subject to the applicable RLUSD Customer Agreement and route. |
| Fee | Fees may apply under the applicable customer agreement and settlement route. |
| Settlement time | Subject to Ripple customer processing and banking operations. |
| Regional limits | Customer eligibility, compliance, jurisdiction, and supported-network restrictions apply. |
- Current status
- Eligible Customers Only
- Settlement asset
- USD
- Eligible parties
- RLUSD holders who are eligible to become, and do become, Ripple customers under the applicable customer agreement.
- Retail access
- Indirect or Customer Onboarding Required
- Institutional access
- Available Through Ripple Mint Subject to Customer Agreement
- Minimum amount
- Subject to the applicable RLUSD Customer Agreement and route.
- Fee
- Fees may apply under the applicable customer agreement and settlement route.
- Settlement time
- Subject to Ripple customer processing and banking operations.
- Regional limits
- Customer eligibility, compliance, jurisdiction, and supported-network restrictions apply.
| Date | Publisher | Type | Assets covered | Record confidence |
|---|---|---|---|---|
| 2026-06-05 | Ripple | Issuer Disclosure Reference | Cash, Cash Equivalents, Short Term Us Treasuries, Not yet recorded | Medium |
| 2026-06-05 | Ripple | Reserve Transparency Archive | Cash, Cash Equivalents, Us Treasury Bills, Not yet recorded | Medium |
Ripple
2026-06-05- Type
- Issuer Disclosure Reference
- Assets covered
- Cash, Cash Equivalents, Short Term Us Treasuries, Public information incomplete
- Record confidence
- Medium
Ripple
2026-06-05- Type
- Reserve Transparency Archive
- Assets covered
- Cash, Cash Equivalents, Us Treasury Bills, Public information incomplete
- Record confidence
- Medium
Deployments and legal context
Deployments and legal context
Network state, contract identity, legal notices, and value states remain separate.| Network | Network record state | Standard | Public deployment category | Canonical deployment type | Operational state | Recorded status | Change or proposal state | Canonicality | Canonicality record state | Verification state | Contract identity state | Contract or identifier | Freeze | Blacklist | Control events | Notes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| XRP Ledger | Specific network recorded | Not yet recorded | Issuer- or institution-supported deployment | Native or Issuer Supported | Unknown or unresolved | Not yet recorded | No separate change state recorded | Issuer-native deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Ripple states RLUSD is natively issued on XRP Ledger. Use Ripple docs or implementation references before displaying final issuer/token identifiers. |
| Ethereum | Specific network recorded | Not yet recorded | Issuer- or institution-supported deployment | Erc20 or Issuer Supported | Unknown or unresolved | Not yet recorded | No separate change state recorded | Issuer-native deployment | Canonicality recorded | Source-linked record; identifier not recorded | Identifier not recorded | Identifier not recorded | Not yet recorded | Not yet recorded | 0 | Ripple states RLUSD is natively issued on Ethereum. Exact contract address should be sourced from official docs, implementation repository, or verified explorer before display. |
| Date | Title | Authority / publisher | Type | Summary |
|---|---|---|---|---|
| No regulatory notes have been added yet. | ||||
No regulatory notes have been added yet.
Evidence
Evidence
Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.| Source | Publisher | Source category | Provenance | Primary or secondary | Supported claims | Archive | Reliability |
|---|---|---|---|---|---|---|---|
| Ripple USD stablecoin page Published Not yet recorded | Ripple | Official documentation or product page Canonical: Issuer Page | Subject-controlled source | Primary source | RLUSD overview, backing, redemption, availability, supported chains, NYDFS/DFSA context, BNY custody reference, and transparency summary | No archive recorded | Medium |
| Ripple USD reserve assets and transparency reports Published Not yet recorded | Ripple | Reserve, assurance, or financial report Canonical: Reserve Transparency Page | Subject-controlled source | Primary source | RLUSD reserve balances, monthly attestation archive, reserve asset statement, Standard Custody / NYDFS trust context | No archive recorded | High |
| RLUSD Stablecoin User Terms Published Not yet recorded | Ripple | Legal terms or disclosure Canonical: Legal Terms | Subject-controlled source | Primary source | RLUSD user terms, supported networks, customer redemption wording, reserve asset classes, risk factors, suspension and compliance conditions | Direct archived snapshot | High |
| Ripple documentation for stablecoin products Published Not yet recorded | Ripple | Official documentation or product page Canonical: Developer Docs | Subject-controlled source | Primary source | RLUSD developer and integration documentation entry point | No archive recorded | High |
| Ripple RLUSD implementation repository Published Not yet recorded | Ripple | Technical documentation or repository Canonical: Repository | Technical primary source | Primary source | RLUSD implementation reference and repository entry point | No archive recorded | High |
| Ripple USD launches globally Published Not yet recorded | Ripple | Official statement or announcement Canonical: Official Launch Announcement | Subject-controlled source | Primary source | RLUSD global launch and exchange availability beginning December 17, 2024 | No archive recorded | High |
| SBI VC Trade begins handling RLUSD in Japan Published 2026-06-24 | SBI VC Trade | Official statement or announcement Canonical: Official Statement | Subject-controlled source | Primary source | Japan Handling Start, Type 4 Electronic Payment Instrument, Sbi Vc Trade Distribution, Deposit and Withdrawal, Buy Sell, Deposit, Withdrawal, External Wallet Transfer, Ethereum Only Platform Transfer Scope, Jpy 1 Million Buy Sell Limit, Jpy 1 Million Withdrawal Limit, Fee Free Deposit and Withdrawal At Reviewed Launch, Platform Service and Reflection Conditions, Japan Provider Distribution Functions Network Limits Fees Conditions and Regulatory Classification | Archive index or wildcard | High |
| SBI Group and Ripple sign agreement for RLUSD distribution in Japan Published 2025-08-22 | SBI Holdings | Official statement or announcement Canonical: Official Statement | Subject-controlled source | Primary source | Distribution Agreement, Japan Market Plan, Sbi Vc Trade Role, Japan Distribution Plan | Archive index or wildcard | High |
Known unknowns
Known unknowns and coverage
Missing or disputed facts remain visible instead of being converted into certainty.| Topic | What remains unclear | Value state | Priority | Last checked |
|---|---|---|---|---|
| Redemption Terms | RLUSD customer redemption access, user vs customer distinction, supported jurisdictions, suspension conditions, and operational redemption limits need exact source extraction from Ripple legal terms before final display. | Unknown after review | Medium | 2026-06-05 |
| Reserve Attestation History | RLUSD monthly reserve report history and exact third-party attestation periods need period-level records before SOG displays a historical reserve timeline. | Unknown after review | Medium | 2026-06-05 |
| Deployment Identifiers | RLUSD XRP Ledger issuer/token identifiers and Ethereum contract address need official docs, implementation, or verified explorer sources before final address display. | Unknown after review | Medium | 2026-06-05 |
Redemption Terms
RLUSD customer redemption access, user vs customer distinction, supported jurisdictions, suspension conditions, and operational redemption limits need exact source extraction from Ripple legal terms before final display.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Reserve Attestation History
RLUSD monthly reserve report history and exact third-party attestation periods need period-level records before SOG displays a historical reserve timeline.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Deployment Identifiers
RLUSD XRP Ledger issuer/token identifiers and Ethereum contract address need official docs, implementation, or verified explorer sources before final address display.
- Value state
- Unknown after review
- Priority
- Medium
- Last checked
- 2026-06-05
Lifecycle
History
Current classification remains separate from dated changes and incidents.Model and lifecycle changes
| Date | Event | Category | Subtype | Status effect | Recovery |
|---|---|---|---|---|---|
| 2024-12-17 | Ripple USD launches globally | Launch and introduction | Launch | No lifecycle change | Not applicable |
| 2026-06-24 | SBI VC Trade begins RLUSD handling in Japan | Adoption and expansion | Exchange Adoption Context | No lifecycle change | Not applicable |
Related records and corrections
Corrections and further reading
Open connected records, methodology, machine-readable data, or report a correction.Use these explainers to compare the legal, regulatory, reserve, redemption, or distribution questions connected to this record.
RLUSD’s Japan Launch Is Only Part of the Story
What USDC, RLUSD, and JPYSC reveal about Japan’s emerging stablecoin access model, legal routes, platform functions, and the difference between availability and unrestricted circulation.
After MiCA: Which Stablecoins Can Europeans Actually Use?
A reviewed guide to EU/EEA stablecoin access, separating issuer status, platform state, customer scope, product functions, direct mint and redemption routes, payment rails, supported networks, and dates.
GENIUS Act and Stablecoins
A beginner-friendly guide to the U.S. payment-stablecoin law, its implementation timeline, and the questions it creates for representative dollar stablecoins.
MiCA and Stablecoins
A beginner-friendly guide to EU stablecoin rules, the 2026 CASP transition deadline, and the different questions facing representative dollar, euro, and protocol-issued assets.
UK Stablecoin Rules: Capital Is Not Backing
What the reported cut from a 2% to 1% issuer-capital requirement means, why it does not halve stablecoin backing, and how the FCA and Bank of England regimes differ.
Open USD Explained: Who Gets the Reserve Income?
Open Standard says partners will receive all reserve earnings after a small management fee. This guide separates that partner model from holder yield and records what is still unknown before launch.
- All stablecoinsCompare this record with the rest of the archive.
- RippleUnited States
- Event registry2 connected events recorded.
- MethodologyRead classification, evidence, and value-state rules.
- CorrectionsReport a source, relationship, or record problem.
- Data manifestInspect the machine-readable public layer.