Ripple Targets $13 Trillion Treasury Market With RLUSD Stablecoin

Ripple is positioning its RLUSD stablecoin to capture a $13 trillion annual transaction pipeline by integrating the asset directly into the workflows of over 1,200 corporate treasury clients [1, 2]. The move marks a strategic shift for the company, which aims to transition enterprise customers from traditional fiat-only payment rails to a hybrid system that supports digital asset settlement alongside conventional cash management [1, 2].

Expanding the enterprise footprint

The $13 trillion figure represents the total annual transaction volume currently processed by Ripple Treasury, the business unit formed following the company’s $1 billion acquisition of GTreasury in October 2025 [1, 2]. While this volume currently relies on traditional banking rails, Ripple’s April 2026 platform upgrade introduced native Digital Asset Accounts, allowing chief financial officers to manage RLUSD and fiat currencies within a single dashboard [1]. Ripple stablecoin chief Jack McDonald emphasized that this integration is designed to provide liquidity management and settlement efficiency, rather than replacing existing banking methods entirely [1, 2].

As of September 10, 2026, RLUSD’s circulating supply reached approximately $2.42 billion, reflecting growth of more than 50% over the preceding month [1, 2]. The token is currently distributed across Ethereum, which holds roughly $1.4 billion of the supply, and the XRP Ledger, which accounts for $1 billion [2]. Despite this rapid expansion, the asset remains a fraction of the broader $300 billion stablecoin market, trailing established leaders like Tether and Circle [2].

Regulatory and operational hurdles

Ripple’s ability to scale RLUSD depends on navigating a complex regulatory and technical roadmap. The stablecoin is currently issued under the supervision of the New York Department of Financial Services and the Dubai Financial Services Authority, with reserves custodied by BNY Mellon [1, 2]. To expand into European markets, the company is pursuing a dual-issuance structure to comply with the European Union’s Markets in Crypto-Assets (MiCA) framework, a process that remains ongoing following the receipt of an Electronic Money Institution license in Luxembourg [2].

Beyond regulatory approvals, the company is testing multichain deployments on networks including Base, Ink, Optimism, and Unichain [2]. While Ripple has integrated AI-powered tools for liquidity optimization and forecasting, the actual conversion of the $13 trillion treasury volume into RLUSD remains a commercial target rather than a confirmed commitment from the platform's enterprise users [1, 2].

What to watch

• Regulatory Approvals: Monitor for the completion of the dual-issuance structure required for RLUSD to operate under the EU’s MiCA framework [2].
• Multichain Deployment: Watch for the final NYDFS approval for the planned expansion of RLUSD onto Base, Ink, Optimism, and Unichain [2].
• Enterprise Adoption: Observe whether corporate treasury clients begin shifting transaction volume from fiat rails to RLUSD, as Ripple has not disclosed specific conversion targets [2].

The core question remains whether enterprise treasurers will move beyond using the platform for cash visibility and begin settling high-value cross-border payments on-chain. While the infrastructure is now in place, the transition from traditional banking rails to digital asset settlement depends on the willingness of risk-averse firms to adopt stablecoin-based liquidity management.