On-chain metrics suggest RLUSD is evolving less as a speculative play and more as a settlement-focused stablecoin — and recent exchange moves have been pivotal. Timeline and liquidity inflection - RLUSD’s expansion kicked off after its December 2024 launch. Early exchange listings created baseline circulation and pushed market capitalization past $1 billion. - Binance’s January 2026 listing proved a structural liquidity inflection: global distribution, zero-fee trading incentives and easy access drove trading volumes up and custodial exchange reserves higher as deposits seeded supply. - Withdrawal activation soon enabled on-chain migration, and on 12 February, XRPL integration opened deposit rails just as liquidity was maturing. Source: Binance What this changed - Binance’s onboarding increased its stablecoin market share, while the XRP Ledger gained deeper settlement capacity. Together, those moves advanced RLUSD’s cross-border payment utility and multi-network circulation. - By mid-February 2026 RLUSD’s circulating supply climbed to roughly $1.52 billion, driven by Binance listings, institutional inflows, and the seeding of payment corridors. Issuance, burns and peg health - Issuance scaled through treasury mints of 59 million, 28.2 million, and 35 million RLUSD, routing liquidity into exchanges and DeFi rails as demand rose. - Measured burns — including a 2.5 million token burn on Ethereum — helped temper oversupply and supported peg stability, with reported collateralization above 103%. Source: DeFiLlama Chain distribution and use cases - Chain allocation clarifies how RLUSD is being used: Ethereum holds nearly $1.2 billion (about 77–79%) mainly for liquidity provisioning and collateral utility, while XRPL holds about $348 million (22–23%) reflecting settlement routing. - As XRPL deposits opened, cross-border throughput improved: Ethereum-centric balances feed DeFi and liquidity pools, XRPL balances move faster through payment corridors. On-chain behavior vs. USDT - RLUSD’s on-chain activity is notably different from Tether (USDT). RLUSD moved about $6.3 billion monthly in transfers, rotating actively through settlement corridors. - By contrast, USDT — with roughly $185 billion in circulation — processes much larger absolute flows but shows lower per-unit velocity because a large portion of its liquidity is parked across exchanges, derivatives venues, and DeFi collateral pools. - Exchange reserves for RLUSD have thinned faster relative to supply, indicating migration toward utility endpoints (institutional treasury settlements and cross-border transfers account for a growing share of movement). Bottom line - RLUSD remains small compared to USDT’s market dominance, but on-chain signals show it carving a settlement-optimized role alongside USDT’s deep liquidity — particularly across Ethereum and XRPL rails. Disclaimer: AMBCrypto’s content is for informational purposes only and should not be taken as investment advice. Cryptocurrency trading carries high risk; readers should do their own research before making decisions. © 2026 AMBCrypto Read more AI-generated news on: undefined/news

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