In a recent interview, Ripple executive Reece Merrick discussed the increasing likelihood that trading and payment activities for the company’s U.S. dollar stablecoin, RLUSD, will transition more toward the XRP Ledger. As institutions look for faster and less costly blockchain solutions, this shift appears imminent. Currently, the majority of RLUSD transactions occur on Ethereum, but this dynamic is expected to change as users begin to recognize the numerous benefits offered by the XRP Ledger.
Ripple has noted a significant rise in the demand for RLUSD, particularly after receiving regulatory approvals in the Middle East. Earlier this year, the Abu Dhabi Global Market regulator sanctioned the use of RLUSD as a recognized U.S. dollar-backed stablecoin within its jurisdiction. The Dubai financial regulator followed suit with a similar endorsement. With these approvals, Ripple stated that institutional confidence has grown, allowing for clearer regulatory frameworks when employing stablecoins from the region.
Ripple has successfully processed over $90 billion in payments worldwide since introducing RLUSD in late 2025, following client requests for stablecoin-backed U.S. dollar payouts. Currently, the stablecoin boasts a market value of approximately $1.3 billion.
While over 70% of global stablecoin transactions are still conducted on Ethereum, Ripple had initially launched RLUSD on both Ethereum and the XRP Ledger due to this dominance. At present, around 30% to 35% of the RLUSD supply operates on the XRP Ledger, with expectations that this figure will rise substantially over time. Merrick highlighted that as users become aware that transactions on the XRP Ledger can be finalized in seconds and at a cost of a fraction of a cent, a gradual shift in activity is anticipated.
The demand for XRP Ledger-based stablecoin payments is reportedly being driven primarily by institutions rather than retail traders. Ripple’s recent acquisition of treasury management firm GTreasury, which facilitates the movement of trillions of dollars between global enterprises, has further heightened interest in RLUSD. Ripple indicated that large businesses are eager to adopt the stablecoin for more efficient global funding management.
This adaptability allows companies to engage in fund transfers around the clock, including on weekends, thus removing the limitations imposed by conventional banking cut-off times. Merrick emphasized this capability as a key factor in unlocking potential growth, citing real-time settlement as a critical advantage of the XRP Ledger.
Ripple reiterated that the XRP Ledger was crafted explicitly for payment processing and cross-border value transfer. Transactions on this network typically settle within two to three seconds, making it a compelling option for banks, companies, and institutions transferring funds worldwide. The company remains optimistic that the growth of RLUSD will bolster the XRP Ledger ecosystem, enhancing long-term utility for XRP as demand gravitates toward more efficient blockchain infrastructures.
