Deloitte Verifies Ripple’s RLUSD Stablecoin Backing as of Feb. 27
According to Deloitte’s attestation and the source, Ripple’s RLUSD showed reserve surpluses across February and late March 2026 while operating under New York State Department of Financial Services rules.
Deloitte attested that Ripple’s RLUSD held $1.568 billion in reserves against 1.49 billion tokens on Feb. 27, 2026, and also checked a Feb. 19 snapshot showing $1.60 billion in reserves against 1.54 billion tokens. The source adds that by late March 2026, RLUSD had 1.41 billion tokens in circulation backed by about $1.57 billion in reserves, again indicating reserves exceeded outstanding supply. The attestation was described as a point-in-time verification rather than a full audit. RLUSD operates under a New York State Department of Financial Services license, and according to Deloitte’s report, its reserve structure complied with requirements covering segregated accounts and permitted low-risk assets such as short-term U.S. Treasuries, overnight reverse repurchase agreements, insured bank deposits, and approved money-market funds.
- RLUSD: Ripple’s U.S. dollar-pegged stablecoin, whose reserves were attested by Deloitte at specific February 2026 dates and were also reported above circulation in late March 2026.
- Stablecoin: A cryptocurrency designed to maintain a fixed value, typically by being pegged to a fiat currency and backed by reserve assets.
- Overnight reverse repurchase agreements: Short-term transactions in which cash is invested against securities collateral, commonly used as low-risk reserve assets for regulated financial products.