Ripple's stablecoin chief says the company's treasury-management customers handle roughly $13 trillion in transactions annually, a potential distribution channel for its RLUSD stablecoin. RLUSD's circulating supply has reached $2.4 billion after growing more than 50% in a month, while Ripple also works toward a MiCA-compliant route into Europe.
Ripple stablecoin chief Jack McDonald expects the company's treasury-management business to connect RLUSD with corporate payments, settlement and liquidity operations, CoinDesk reported on Sept. 12. The $13 trillion figure describes annual transactions touching Ripple Treasury's customer base, not an RLUSD volume forecast, revenue projection, or commitment from those customers to use the stablecoin.
Ripple Treasury serves 1,200 corporate clients
Ripple entered corporate treasury management through its $1 billion acquisition of GTreasury in October 2025. The business now operates as Ripple Treasury and serves approximately 1,200 corporate treasurers and chief financial officers.
According to McDonald, those companies move money domestically, across borders and between subsidiaries, and they touch roughly 13 trillion dollars worth of transactions on an annual basis. Ripple has not disclosed how much of that activity could move into RLUSD, leaving any stablecoin conversion as a company target rather than confirmed future volume.
RLUSD supply climbs to $2.4 billion
Token Terminal data cited by CoinDesk placed RLUSD's circulating supply at $2.4 billion, following growth of more than 50% over the preceding month. Approximately $1.4 billion circulated on Ethereum, with another $1 billion issued on the XRP Ledger.
Daily RLUSD activity climbed from roughly $200 million at the start of 2026 to approximately $750 million during August, according to figures McDonald provided. RLUSD remains smaller than Tether's USDT and Circle's USDC: total stablecoin circulation had exceeded $300 billion, leaving Ripple's token with a limited share of the market.
Ripple seeks a MiCA route into Europe
Ripple wants to introduce RLUSD in Europe through a dual-issuance structure designed to comply with the EU's Markets in Crypto-Assets framework, and McDonald said the company must complete an approval process before offering the product under that model. In February, Luxembourg's Commission de Surveillance du Secteur Financier granted Ripple a full Electronic Money Institution license, though that license does not by itself confirm approval for the proposed dual-issued structure.
RLUSD began on Ethereum and the XRP Ledger, but Ripple is preparing deployments on Base, Ink, Optimism and Unichain after testing those integrations through Wormhole's Native Token Transfers standard starting in December 2025. Each public deployment remains subject to testing and final approval from the New York Department of Financial Services, which supervises the stablecoin. McDonald said Ripple is selective about where it expands: "We're not chasing retail meme coin chains."
Source: crypto.news
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