TLDR
- RLUSD is now the highest-rated stablecoin on Bluechip with an “A” rating in stability, governance, and management.
- The GENIUS Act mandates U.S. stablecoins be backed by liquid assets like dollars and Treasury bills.
- Ripple partnered with BNY Mellon to custody RLUSD reserves, boosting regulatory trust and institutional appeal.
- Over 10 million RLUSD tokens were minted in 24 hours, pushing total supply above $527 million.
Ripple’s RLUSD is gaining traction in the stablecoin market after the United States passed the GENIUS Act. The new law sets clear rules for dollar-backed stablecoins and supports Ripple’s push for regulatory alignment. RLUSD is now seen by many as a compliant option as the market moves toward more oversight.
RLUSD’s growth comes at a time when investors and institutions are moving away from offshore and unregulated stablecoins. The GENIUS Act, signed by President Donald Trump, introduces the first federal framework for stablecoins in the U.S.
GENIUS Act Sets Federal Rules for Stablecoins and Boosts RLUSD’s Compliance Status
The GENIUS Act requires that all U.S.-issued stablecoins be backed by liquid assets such as U.S. dollars and Treasury bills. It also demands full reserve disclosures and regulatory approval for issuers. According to SEC Commissioner Hester Peirce, the law states that payment stablecoins are not securities. She called the act a “milestone” for market clarity.
Ripple’s RLUSD meets these requirements. It is backed by U.S. Treasury bills, government money market funds, and cash deposits. RLUSD is also regulated by the New York Department of Financial Services (NYDFS), which enforces strict oversight over reserves, custody, and regular reporting.
Now that the Stablecoin Bill has officially passed, let me walk you through how this is going to play out over the next few months and into the coming year.$RLUSD is the Treasury’s vehicle to globalize the digital dollar while simultaneously creating new demand for U.S.… pic.twitter.com/lSHTISYGiS
— Versan | Black Swan Capitalist (@VersanAljarrah) July 19, 2025
Versan Aljarrah, co-founder of Black Swan Capitalist, said in a recent post, “RLUSD is fully compliant and aligned with the GENIUS Act. This gives it an edge in the coming phase of regulation.”
As the law takes effect, stablecoin issuers like Tether may face new regulatory challenges. Tether currently leads the stablecoin market with over $161 billion in supply but operates outside U.S. regulatory control.
RLUSD Ranked Top for Stability and Governance
Independent stablecoin rating agency Bluechip recently gave RLUSD an “A” rating, the highest on its platform. RLUSD scored 0.91 for stability, 0.84 for management, and 0.86 for governance. Bluechip classifies the token as “Very low risk.”
The agency said RLUSD’s backing and oversight met its requirements for transparency and liquidity. RLUSD is now ranked higher than USDC, which received a B+, and far above USDT, which scored a D.
Ripple confirmed on July 18 that it partnered with Bank of New York Mellon to hold RLUSD reserves. This partnership adds institutional trust and improves the credibility of the stablecoin.
A post from Ripple on X stated, “Built for enterprise use cases, RLUSD delivers the security, compliance, and scale global businesses demand.”
Ripple’s internal tracker showed that 10 million RLUSD tokens were minted within 24 hours of the announcement. The total circulating supply now stands at over $527 million.
Ripple and Circle Apply for National Bank Trust Charters
Ripple and Circle have both filed for national trust bank charters with the U.S. Office of the Comptroller of the Currency (OCC). These applications are required to go through a public comment period, though both firms marked most of their filings as confidential.
Ripple is launching Ripple National Trust Bank as a subsidiary of its existing trust company. Jack McDonald, CEO of Standard Custody and Trust, will lead the new entity. Board members include Ripple’s Chief Legal Officer Stuart Alderoty and former BNY Mellon executive Tim Keaney.
Circle also applied for a similar charter to support its USDC reserves and custody operations. The new bank, First National Digital Currency Bank (FNDCB), is planned to expand Circle’s services for institutional clients.
These applications signal a push for deeper integration with the U.S. financial system. They also reflect growing pressure to meet the regulatory bar set by the GENIUS Act.
Ripple’s RLUSD continues to gain support as regulation takes center stage in the stablecoin space. Institutions now seek trusted assets with clear oversight, and RLUSD appears to be moving into that role.
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