XRP Ledger
Issuing stablecoins on the XRP Ledger.
XRPL builds issuance, compliance controls and exchange into the protocol itself, with no custom smart contract. That shrinks the audit surface, and it means configuration choices made on day one are often permanent.
$2.35B
RLUSD market cap (16 Sep 2026)
3–5 s
Typical ledger close to finality
Native
DEX, AMM, escrow, freeze, clawback
94
Amendments enabled on mainnet
Sources: Stablecoinbeat; xrpldashboard.com amendments (16 Sep 2026).
Stablecoins on XRPL
Who is issuing
| Token | Issuer | Notes |
|---|---|---|
| RLUSD | Ripple (NYDFS trust company) | Issued on XRPL and Ethereum. OCC conditional charter (Dec 2025), Japan FSA electronic payment instrument (Jun 2026), DFSA approval, and a Luxembourg MiCA CASP licence. |
| USDC | Circle | Native USDC on XRPL, announced June 2025. |
| EURCV | SG-Forge (Société Générale) | Euro stablecoin, with 10M of ~172M supply on XRPL. |
| EURØP | Schuman Financial | MiCA-oriented euro token. |
| USDB | Braza Group | Dollar token backed by US and Brazilian government bonds. |
| XSGD | StraitsX | Singapore-dollar stablecoin. |
Sources: Ripple, rwa.xyz, Stablecoin Insider.
Issuer toolkit
Protocol features an issuer configures
| Feature | What it does | Issuer guidance |
|---|---|---|
| Trust lines | Holders explicitly opt in to hold the token. Balances are the issuer's obligations to the holder. | Set DefaultRipple on the issuer so holders can pay each other. |
| RequireAuth | The issuer must approve each trust line before it can hold the token. | For permissioned coins. It must be set while the issuer has no trust lines. |
| Freeze / Global Freeze | Freeze a single holder's trust line, or all of them. | Never set NoFreeze on a regulated coin, because it is irreversible. |
| Clawback | The issuer can recover tokens from a holder, for court orders or sanctions. | AllowTrustLineClawback can only be enabled on an account with no trust lines or other owned objects, so plan for it before the first issuance. |
| Transfer fee & tick size | Optional fee on holder-to-holder transfers, and price precision on the DEX. | Most payment stablecoins set no transfer fee. |
| MPTokens (XLS-33) | Multi-purpose tokens: a lighter-weight fungible token model with issuer-defined flags and metadata. | Amendment MPTokensV1 is enabled. Evaluate it for new issuances. |
| Credentials (XLS-70) & Permissioned Domains (XLS-80) | On-ledger attestations from trusted issuers, used to restrict who can access a domain or the permissioned DEX. | Enabled. Supports KYC-gated liquidity venues. |
| AMM & DEX | Native order book and automated market maker, with AMMClawback support. | Seed liquidity from the operational wallet, not the issuer. |
| Token Escrow · Price Oracle | Time- or condition-locked token escrow, and on-ledger price feeds. | Enabled. Useful for settlement windows and collateral workflows. |
| Vaults & Lending (XLS-65/66) · Batch | Single-asset vaults, a native lending protocol, and atomic transaction batches. | Voting Not yet enabled on mainnet as of mid-Sep 2026. |
Amendment status per xrpldashboard.com and xrpl.org. Confirm on xrpl.org known amendments before production.
Reference topology
Account architecture for an XRPL issuer
Holding tokens on the issuer account is impossible by design: every payment out of the issuer creates new supply, and every payment back to it is redeemed. Day-to-day payments should come from an operational wallet so the issuer key can stay offline.