RLUSD and USDC
4 minDifficulty Checked 2026-11-10- RLUSD and USDC are trust line tokens. Each needs a trust line to its issuer's address.
- Both codes are longer than three letters, so the ledger stores them as hex.
- Backing and redemption statements are the issuers' own claims.
Two dollar stablecoins issued on the XRP Ledger are RLUSD from Ripple and USDC from Circle. Both are issued directly on the ledger. Neither arrives over a bridge.
Everything below about backing is what each issuer says about its own token. xrpl.fyi has not checked the reserves and does not recommend either token.
RLUSD. Ripple says it is backed 1:1 by cash, U.S. Treasuries and government money market funds. It says an independent accounting firm checks the reserves monthly. The issuer is Ripple Custody & Trust Co., a trust company supervised by the New York State Department of Financial Services. Ripple announced exchange availability starting December 17, 2024.
USDC. Circle says it is 100% backed by highly liquid cash and cash-equivalent assets. It says USDC can be redeemed 1:1 for US dollars. It says it publishes monthly reserve attestations by a Big Four accounting firm. Circle announced USDC on the XRPL on June 12, 2025.
To hold either one, your account opens a trust line to that issuer's address. The line locks 0.2 XRP of reserve. Without the line, a payment of the token to you fails.
Copy issuer addresses from the issuer's own website. A token with the right name and the wrong issuer is a different token.
| RLUSD | USDC | |
|---|---|---|
| Issuer (as published) | Ripple Custody & Trust Co. | Regulated affiliates of Circle |
| Mainnet issuer address | rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De | rGm7WCVp9gb4jZHWTEtGUr4dd74z2XuWhE |
| Testnet issuer address | rQhWct2fv4Vc4KRjRgMrxa8xPN9Zx9iLKV | rHuGNhqTG32mfmAvWA8hUyWRLV3tCSwKQt |
| Currency code | 524C555344000000000000000000000000000000 | 5553444300000000000000000000000000000000 |
| Token type | Trust line token | Trust line token |
Addresses are from Ripple's and Circle's developer pages, read on 2026-11-10. Ripple states that testnet RLUSD is not backed by real-world assets.
Hex codes. A standard currency code is exactly three characters. Longer names use a 160-bit hex value, so TrustSet and Payment carry the hex string in currency. Most interfaces convert it back to text for display. xrpl.org warns about lookalike codes that display like another asset.
Trust line. Ripple's docs give the minimum for a new account holding RLUSD as 1.2 XRP: 1 XRP base reserve plus 0.2 XRP for the line.
Issuer settings. Read with account_info on mainnet, validated ledger 108249489, on 2026-11-10:
| Setting | RLUSD issuer | USDC issuer |
|---|---|---|
Domain | https://ripple.com/ | https://circle.com |
| Allow Trust Line Clawback | On | Off |
| No Freeze | Off | Off |
| Global Freeze | Off | Off |
| Require Auth | Off | Off |
| Default Ripple | On | On |
| Deposit Authorization | On | On |
| Master key disabled | Yes | Yes |
TransferRate | Not set | Not set |
What that means for a holder:
- Either issuer can freeze a trust line. Neither has given up that power.
- The RLUSD issuer can claw tokens back. Ripple's implementation repo lists the same clawback setting.
- The USDC issuer cannot claw back. Clawback can only be enabled before an account issues anything.
- Neither requires approval before a trust line can hold the token.
- Neither charges a transfer fee.
Settings can change. Read them again before relying on them.
Related: Freeze, Deep Freeze and Clawback, Checking a stablecoin.
- RLUSD: The USD Stablecoin for InstitutionsRead 2026-11-10
- RLUSD on the XRP LedgerRead 2026-11-10
- RLUSD XRP Ledger settingsRead 2026-11-10
- Ripple USD Launches GloballyRead 2026-11-10
- USDCRead 2026-11-10
- USDC contract addressesRead 2026-11-10
- Now Available: USDC on the XRPLRead 2026-11-10
- account_info (issuer accounts read on mainnet, ledger 108249489)Read 2026-11-10
- Clawing Back TokensRead 2026-11-10
- Currency FormatsRead 2026-11-10
