Ripple sees a major opportunity to expand the use of its RLUSD stablecoin through corporate treasury clients handling around $13 trillion in transactions each year.
The $13 trillion figure refers to the annual transaction activity of companies using Ripple Treasury. It is not a forecast for RLUSD transaction volume, revenue, or a promise that these companies will use the stablecoin.
Ripple stablecoin chief Jack McDonald said the company’s treasury business could connect RLUSD with corporate payments, settlement and liquidity management. Ripple Treasury serves about 1,200 corporate treasurers and chief financial officers after Ripple acquired GTreasury for $1 billion in October 2025.
These companies move money within the U.S., across borders and between different parts of their businesses. McDonald said the customer base handles roughly $13 trillion in transactions each year, creating a large potential market for Ripple.
However, Ripple has not said how much of this activity could eventually move to RLUSD. The $13 trillion number only shows the size of the existing treasury business.
Ripple Treasury combines cash management, forecasting, payments, risk management and digital-asset tools. Companies can manage traditional cash and digital assets from the same platform while keeping access to regular banking systems.
RLUSD’s supply has also grown quickly. Token Terminal data cited by CoinDesk showed about $2.4 billion of RLUSD in circulation, up more than 50% in one month. Around $1.4 billion is on Ethereum, while about $1 billion is on the XRP Ledger.
Daily RLUSD activity also increased from around $200 million at the beginning of 2026 to about $750 million in August. These numbers include transfers and other activity, meaning the same tokens may have moved multiple times.
Ripple says the main focus is not simply increasing the amount of RLUSD in circulation but increasing how often the stablecoin is actually used.
RLUSD is still much smaller than major stablecoins such as Tether’s USDT and Circle’s USDC. Total stablecoin supply has already passed $300 billion, leaving RLUSD with a relatively small share of the overall market.
RLUSD is issued under the supervision of the New York Department of Financial Services and is backed by cash and cash-equivalent reserves. Because it is designed to stay near $1, normal price movements around that level do not measure its adoption in the same way as Bitcoin or XRP.
Ripple is also focusing on payments and capital markets. McDonald said RLUSD can be used for payments involving different currencies, countries and corporate entities.
In capital markets, Ripple sees RLUSD as a dollar-based asset that can be used for settlement and collateral. It could also support transactions involving tokenized securities when participants need a digital dollar asset on a blockchain.
Ripple has worked with DBS and Franklin Templeton on a structure involving tokenized money-market funds and RLUSD. The company has also expanded its institutional business through Ripple Prime, following its $1.25 billion acquisition of Hidden Road.
RLUSD can potentially be used as collateral within that business. Hidden Road previously provided clearing and financing services to more than 300 institutional clients and handled about $3 trillion in annual clearing activity.
Ripple is also working to bring RLUSD to Europe. The company plans to use a dual-issuance structure designed to comply with the European Union’s MiCA rules.
McDonald said Europe is a major target, but Ripple still needs to complete the required regulatory process before RLUSD can be widely offered there.
Ripple received a full Electronic Money Institution license in Luxembourg in February. However, that license alone does not mean the planned RLUSD structure is already approved under MiCA.
The company believes demand for dollar-backed stablecoins remains strong compared with stablecoins tied to euros or emerging-market currencies. McDonald also said stablecoins can be useful when companies need to move outside the closed networks normally used for bank deposit tokens.
Ripple is also preparing to expand RLUSD to more blockchain networks, including Base, Ink, Optimism and Unichain. The company has been testing these integrations using Wormhole’s Native Token Transfers system.
The planned deployments still require testing and final regulatory approval. Ripple has also said it does not want to launch RLUSD on every blockchain simply for the sake of expansion. Instead, it plans to focus on networks where there is real demand.
For now, Ripple’s main goal is to increase RLUSD’s use in corporate payments, settlement, collateral and treasury operations while completing the regulatory work needed for expansion into Europe and additional blockchain networks.
