# RLUSD Supply by Chain: Ripple USD on XRPL and Ethereum > Ripple USD (RLUSD) supply by chain: XRP Ledger and Ethereum issuance, layer 2 supply, daily mints and burns, holders and trust lines, with each read named. Markdown copy of https://voltfincrypto.com/apps/rlusd-supply-by-chain **Question:** How much RLUSD is issued on the XRP Ledger and on Ethereum, and where is it growing? - Kind: Dashboard in Voltfin Vantage - Topic: [Stablecoins](https://voltfincrypto.com/topics/stablecoins) - Chains: Multi-chain, XRP Ledger, Ethereum, Base, OP Mainnet, Unichain - Status: Planned. The data is not published yet, so this page states no figure; each figure will open its receipt when it is. RLUSD is Ripple's dollar stablecoin, issued by Standard Custody and Trust Company, a New York trust company Ripple owns, and launched in December 2024 on the XRP Ledger and Ethereum. It has since reached Ethereum layer 2s through Wormhole. This dashboard reads RLUSD supply on each ledger and chain separately, because the XRP Ledger and Ethereum record issued tokens in different ways. On the XRP Ledger, RLUSD is an issued currency: holders open a trust line to the issuing account, and supply is what the issuer owes across those trust lines. On Ethereum it is an ERC-20 token with a total supply. Layer 2 supply arrives through Wormhole's native token transfers, so tokens sent to a layer 2 leave Ethereum supply or are locked there, and each dollar is counted once. The issuer can freeze balances on both ledgers and claw tokens back on the XRP Ledger, as a regulated stablecoin must be able to. Those actions are listed with their transactions, beside the daily mints and burns that change supply and the trust lines and holders that show how widely RLUSD is held. ## Blueprint ### Supply RLUSD supply on each ledger and chain. - **RLUSD supply** (RLUSD): RLUSD supply on every covered ledger and chain at the latest day-end reads, each dollar counted once. - **On the XRP Ledger** (RLUSD): RLUSD owed by the issuing account across XRP Ledger trust lines, less its own operational balances. - **On Ethereum** (RLUSD): RLUSD totalSupply() on Ethereum, net of tokens locked for layer 2 transfers. - **On layer 2s** (RLUSD): RLUSD on Ethereum layer 2s, matched to the Wormhole transfers that brought it there. - **Supply by ledger and chain** (RLUSD): RLUSD supply by day on the XRP Ledger, Ethereum and each layer 2. ### Mints, holders and freezes Issuer mints and burns, holders and compliance actions. - **Minted, 30 days** (RLUSD): RLUSD issued over the last 30 days on both ledgers, with layer 2 transfers left out. - **Burned, 30 days** (RLUSD): RLUSD redeemed and burned over the same period on both ledgers. - **Holders and trust lines** (count): XRP Ledger trust lines with a balance plus EVM addresses holding RLUSD, at the latest reads. - **Freezes and clawbacks** (count): Freezes and clawbacks by the issuer in the period, on both ledgers. - **Mints and burns by day** (RLUSD): RLUSD minted and burned by day on each ledger, with each transaction. Filters: Period (Last 30, 90 or 365 days). ## How it will be measured - XRP Ledger supply is the total the issuing account owes across RLUSD trust lines at the day's last validated ledger, less balances held by the issuer's own operational accounts. - Ethereum supply is RLUSD totalSupply() at the last block of the day; layer 2 supply is each chain's token totalSupply(), matched to Wormhole transfer events so tokens locked or in transit are counted once. - Mints and burns are payments from and to the issuing account on the XRP Ledger and transfers from and to the zero address on EVM chains. - Freezes and clawbacks are the issuer's trust line freeze flags and clawback transactions on the XRP Ledger and the token's freeze events on Ethereum. - Holders are trust lines and addresses with a non-zero balance at the same ledger or block. ## Data it needs - `stablecoin_supply_daily` (published): Native supply of each USD and EUR stablecoin on each covered chain at the chain's last block of each day, from totalSupply() reads, with bridged copies kept apart. - `stablecoin_flows_daily` (to build): Stablecoin mints, burns, transfer volume and active addresses per stablecoin and chain per day. - `stablecoin_freezes` (to build): Addresses frozen or blacklisted by stablecoin issuers, the balances frozen, and later unfreezes or destroyed funds, per stablecoin and chain. - `bridge_flows_daily` (to build): Deposits into and withdrawals out of canonical and major third-party bridges by chain, token and day, plus escrow balances at day end. - `token_holders_snapshot` (to build): Holder counts, top holders and concentration shares of registry tokens at a pinned block, with contract and exchange labels. - Source: RLUSD trust line obligations of the issuing account at day-end validated ledgers on the XRP Ledger - Source: RLUSD totalSupply() at day-end blocks on Ethereum and each layer 2 - Source: Payments from and to the issuing account, and transfers from and to the zero address - Source: Wormhole native token transfer events for RLUSD - Source: Trust line freeze flags, clawback transactions and ERC-20 freeze events ## Questions ### What is RLUSD? Ripple USD, or RLUSD, is a dollar stablecoin issued by Standard Custody and Trust Company, part of Ripple. It is meant to be redeemable one to one for US dollars and backed by dollar deposits, short-term US Treasuries and cash equivalents. ### Which chains is RLUSD on? RLUSD is issued natively on the XRP Ledger and Ethereum, and it reaches Ethereum layer 2s such as Base, OP Mainnet and Unichain through Wormhole. The dashboard reads each of them and lists any chain it does not yet cover. ### Why does RLUSD on the XRP Ledger need a trust line? The XRP Ledger lets an account hold an issued currency only after it opts in with a trust line to the issuer. That protects accounts from receiving unwanted tokens, and it makes the count of RLUSD trust lines a direct measure of who has chosen to hold it. ### Can RLUSD be frozen? Yes. As a regulated stablecoin, RLUSD lets its issuer freeze balances on both ledgers and claw back tokens on the XRP Ledger when the law requires it. Every freeze and clawback appears here with its transaction. ### Is more RLUSD on Ethereum or on the XRP Ledger? The split moves as the issuer mints on one ledger or the other. The supply page shows each ledger's share by day, read from each one directly, so the answer is always current to the latest complete day. ## Glossary - **Trust line**: An XRP Ledger link between an account and a token issuer that lets the account hold that issuer's token. - **Issued currency**: A token on the XRP Ledger that is a balance owed by its issuing account to holders with trust lines. - **Clawback**: An XRP Ledger feature that lets a token issuer take back tokens from a holder's account. ## Related apps - [XRP Ledger Activity: Payments, Accounts and AMM Pools](https://voltfincrypto.com/apps/xrp-ledger-activity) - [Stablecoin Market Share by Issuer](https://voltfincrypto.com/apps/stablecoin-market-share-by-issuer) - [PYUSD Supply by Chain: PayPal USD On-Chain](https://voltfincrypto.com/apps/pyusd-supply-by-chain) - [USDT and USDC Mint and Burn Tracker](https://voltfincrypto.com/apps/usdt-usdc-mint-burn-tracker) - [GENIUS Act Stablecoin Tracker](https://voltfincrypto.com/apps/genius-act-stablecoin-tracker) - [Stablecoin Market Cap and Total Supply](https://voltfincrypto.com/apps/stablecoin-market-cap) Build it in Voltfin Studio: https://app.voltfincrypto.com/signup?next=%2F