Ripple’s RLUSD stablecoin had about $2.57 billion in circulating supply on Nov. 4, 2026, up roughly $972 million from $1.59 billion on Aug. 6, according to Defillama data. Its supply gain over those 90 days exceeded the gains reported for other major stablecoins in the excerpt; USDT supply fell about $5.2 billion and USDC fell roughly $900 million.
Ripple received final approval on Oct. 26 to establish a federally supervised trust bank. Ripple said the bank will manage RLUSD reserves, while token issuance will remain with its New York-regulated entity; the approval does not mean the bank is already operating. The supply growth coincided with the approval, but the excerpt does not establish that the approval caused it.
