TLDR:
- RLUSD achieved top 5 USD stablecoin status within its first year of operation in the market.
- OCC granted conditional approval for Ripple National Trust Bank, establishing federal oversight.
- The stablecoin expanded to Layer 2 networks including Optimism, Base, Ink, and Unichain via Wormhole.
- Abu Dhabi FSRA green-listed RLUSD while Gemini added support on XRP Ledger for faster settlement.
RLUSD has completed its first year of operation, securing a position among the top five USD stablecoins in the market.
The achievement comes alongside regulatory approval from the U.S. Office of the Comptroller of the Currency for Ripple National Trust Bank.
The stablecoin now operates under both federal and state supervision through the New York Department of Financial Services. These developments mark a period of growth for the institutional-focused digital asset.
Federal Oversight and Compliance Framework
The Office of the Comptroller of the Currency granted conditional approval to Ripple National Trust Bank in a move that establishes federal oversight for RLUSD operations.
This approval allows the stablecoin to function under dual regulatory supervision at both federal and state levels.
The New York Department of Financial Services provides additional oversight as the chartering authority for Standard Custody, the issuer behind RLUSD.
Standard Custody operates as a limited purpose trust company under NYDFS charter and supervision. The regulatory framework requires complete reserve backing through highly liquid, short-term assets held in segregated accounts.
Reserves consist of U.S. dollars and cash equivalents, maintained at 100% of outstanding tokens. The structure adheres to customer protection requirements and mandates strict service-level agreements for redemptions.
Jack McDonald announced the November attestation results on social media, noting the regulatory approval as a benchmark for stablecoin compliance standards.
The institutional design prioritizes transparency in reserve holdings and adherence to safety standards. NYDFS requirements ensure the reserves remain separate from other company assets, providing additional security layers for token holders.
Multi-Chain Expansion and Market Integration
RLUSD expanded its blockchain presence through integration with Wormhole, enabling deployment across multiple Layer 2 networks.
The stablecoin now operates on Optimism, Base, Ink, and Unichain, broadening its accessibility for users across different blockchain ecosystems. This multi-chain approach provides flexibility for institutions seeking to utilize the stablecoin across various platforms.
Abu Dhabi’s Financial Services Regulatory Authority added RLUSD to its green list, authorizing its use as collateral within the Abu Dhabi Global Market jurisdiction.
The approval enables exchanges and prime brokerage platforms in the region to accept the stablecoin for trading and settlement purposes. This regulatory recognition in the United Arab Emirates opens access to Middle Eastern financial markets.
Gemini integrated RLUSD support on the XRP Ledger, providing users with faster settlement options and reduced transaction costs.
The exchange’s adoption enhances liquidity channels for the stablecoin on its native blockchain infrastructure.
The combination of regulatory approvals and expanding exchange support demonstrates growing institutional acceptance of RLUSD within traditional and digital finance sectors.
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