The stablecoin market capitalization reached $300.9 billion on Oct. 1, 2026, across 195 assets, 152 issuers and 47 blockchains, according to an RWA Foundation analysis of the third quarter. Holder addresses rose to 308.4 million. Circle recorded the largest issuer increase, adding $915 million over 90 days, followed by Ripple with $765.3 million and United Stables with $474.2 million. Tether was the largest issuer to contract, declining by $207.7 million; despite USDT representing 61.0% of supply, it did not rank among the 10 fastest-growing issuers. Ripple’s RLUSD represented 0.8% of supply and added 23,600 holders during the quarter. Separately, RLUSD surpassed $2.4 billion in market capitalization, up more than 50% in a month, while average daily activity more than tripled from the start of the year. Ripple also added Machine Payments Protocol support to the XRP Ledger AI Starter Kit and expanded RLUSD distribution through Spark Finance’s Stablecoin FX Layer on Uniswap v4, where RLUSD/USDS processed more than $600 million in its first week.