Ripple is targeting corporate treasurers as a major distribution channel for RLUSD, its dollar-pegged stablecoin, through the Treasury business built around its $1 billion acquisition of GTreasury in October 2025. The platform serves about 1,200 treasurer and CFO customers whose businesses move roughly $13 trillion in transactions annually, including cross-border, intercompany and domestic payments. Ripple’s senior vice president of stablecoins, Jack McDonald, said the customer base had not previously been onchain and represents a significant opportunity to bring traditional financial activity onto blockchain rails. Treasury connects to more than 13,000 banks and includes Digital Asset Accounts and Unified Treasury, which allow businesses to manage RLUSD, XRP and fiat currencies from one dashboard. RLUSD supply has reached about $2.4 billion, with roughly $1 billion on the XRP Ledger and $1.4 billion on Ethereum, while daily activity rose from about $200 million at the start of the year to roughly $750 million last month. Ripple is prioritizing usage over market capitalization, with payments and capital markets as its main adoption areas. RLUSD is used in Ripple’s payments business and for settlement, cash legs and collateral in capital-markets transactions, including through Ripple Prime. The company has worked with Franklin Templeton and DBS on tokenized money-market funds and lending, and plans to expand in Europe through a MiCA-compliant rollout. The broader strategy combines RLUSD with custody, trading, payments and prime brokerage rather than treating it as a standalone product.