[Digital Today reporter Jinju Hong (홍진주)] Ripple's stablecoin RLUSD recorded net inflows of more than $1 billion over the past 90 days and showed the fastest growth among major stablecoins, blockchain outlet Decrypt reported on Oct. 29 (local time).

RLUSD was the only stablecoin to post net inflows of more than $1 billion over the past three months. Market data showed Ethena's USDe ranked second with $753 million in net inflows. Falcon USD followed with $464 million, USDS with $358 million and Global Dollar with $326 million. By contrast, USX recorded net outflows of $321 million.

More notable were fund flows in the large stablecoins. USDC recorded net outflows of $1.6 billion over the past 90 days, and Tether USDt saw $2.6 billion leave, the biggest decline among the tracked tokens. The figures confirm a shift of funds from established large tokens to new stablecoins that put regulatory compliance at the forefront.

RLUSD's current indicators also show expansion. RLUSD's market capitalisation stood at $2.55 billion at the time of writing, up 3.34 percent from 30 days earlier, according to RWA.xyz. Another market analysis platform put it at about $2.6 billion. Monthly transfer volume was $21.45 billion, up 45.74 percent over 30 days.

Not all usage indicators improved. The number of RLUSD holders was 78,238, down 5.84 percent from 30 days earlier. Monthly active addresses also fell 28.03 percent to 8,223. That means inflows and transaction volume increased, but the user base did not grow at the same pace.

RLUSD was launched in December 2024 under a trust company licensing framework of the New York State Department of Financial Services. Ripple designed the stablecoin for cross-border payments and put regulatory compliance at the core from the start. RLUSD exceeded $1 billion in market capitalisation within a year of launch, and its year-to-date growth rate at the time was 1,278 percent.

Its credit-rating track record is also clear. RLUSD became the first stablecoin to receive an investment-grade rating from Moody's based on an assessment of reserve assets. Later, at the end of 2025, it received preliminary approval from the U.S. Office of the Comptroller of the Currency for a federal trust bank charter, raising the possibility it could become the first U.S. stablecoin subject to both state and federal regulation.

Its issuance also grew rapidly. Ripple confirmed in August 2026 that RLUSD's market value surpassed $2 billion about two years after launch. About 1 billion tokens were issued directly on the XRP Ledger.

Institutional adoption also contributed to the expansion. BlackRock's USD Institutional Digital Liquidity Fund adopted RLUSD as a settlement asset through cooperation with Securitize. LMAX Group also integrated RLUSD into its institutional trading platform after Ripple pledged $150 million in funding support.

Distribution channels are also widening. RLUSD later expanded to Coinbase, and Ripple plans to list the stablecoin on Robinhood's retail trading app before the end of 2026. Ripple also expects annualised product revenue to approach $900 million by year-end.

This trend shows that the stablecoin market's centre of gravity is shifting from simple issuance volume to regulatory frameworks and actual payment use. RLUSD drew funds during a period when large stablecoins continued to see outflows, highlighting that institutional settlement and distribution expansion strategies have emerged as key variables in the fight for market share.