Ripple accelerated issuance of its dollar-pegged RLUSD stablecoin across Ethereum and the XRP Ledger in late August 2026, with market trackers estimating circulating supply at roughly $2.35 billion to $2.37 billion. The activity included an 11 million RLUSD mint and separate 11 million-token burn at treasury addresses on Aug. 31, which produced no net increase from those transactions alone. CoinGecko valued circulating RLUSD and its market capitalization at approximately $2.37 billion that day, while Ripple’s Aug. 20 snapshot reported $1.866 billion in circulation and $1.981 billion in reserves. Ethereum held about $1.31 billion, or 56%, and the XRP Ledger about $1.04 billion, or 44%, in one tracker reading. Ripple confirmed the stablecoin crossed $2 billion in market capitalization on Aug. 25 and said nearly $1 billion had been issued on the XRP Ledger. Standard Custody & Trust Company, a Ripple subsidiary supervised by the New York State Department of Financial Services, issues RLUSD, with Deloitte preparing monthly attestations. Additional deployments include Base, Ink, Optimism, Unichain and the XRPL EVM sidechain, but treasury activity alone does not establish public circulation, customer demand or a direct effect on XRP.