# Ripple USD Narrows Gap With PayPal USD to $248 Million

By Enna Lee

Canonical URL: https://www.tokenpost.com/news/investing/24923
Published: 2026-09-28T13:26:05.000Z
Updated: 2026-09-28T13:26:05.000Z
Section: Investing

> RLUSD rose from $2.409 billion to $2.491 billion during the cited period, while PYUSD stood at $2.739 billion after falling from $2.779 billion.

Ripple USD (RLUSD) narrowed the gap with PayPal USD (PYUSD) to about $248 million as its circulating supply rose to $2.491 billion during the cited period, while PYUSD stood at $2.739 billion.

RLUSD increased by $82.1 million from $2.409 billion to $2.491 billion over the reported period. PYUSD rose from $2.697 billion to $2.779 billion before later standing at $2.739 billion, a $40 million decline from that level.

PYUSD posted the larger reported supply increase at $82.7 million, narrowly exceeding RLUSD’s $82.1 million gain. The figures place the two dollar-denominated stablecoins within roughly $248 million of each other by the Sept. 28 comparison.

RLUSD has expanded during 2026 from $1.336 billion at the start of the year, an increase of more than 86% based on the $2.491 billion figure. PYUSD began the year at $3.531 billion and reached a peak of $4.214 billion on March 5. Its $2.739 billion supply was about 35% below that peak.

RLUSD’s growth was distributed across the XRP Ledger and Ethereum. Between Sept. 21 and Sept. 28, its supply on the XRP Ledger increased from $1.036 billion to $1.099 billion, while its Ethereum supply rose from $1.343 billion to $1.392 billion.

RLUSD is issued on the XRP Ledger, Ethereum and other blockchains. It is backed by segregated cash and cash-equivalent reserves and redeemable 1:1 for U.S. dollars. Standard Custody & Trust Company, a Ripple subsidiary, issues the stablecoin.

Paxos issues PYUSD. The overall stablecoin market stood at approximately $306.4 billion, with Tether’s USDT and Circle’s USDC remaining the largest assets.

As of Sept. 3, RLUSD circulating supply was $2.3956 billion, with $2.5177 billion in reserve funds. The comparison follows earlier TokenPost coverage of RLUSD circulation.

## Links in this article

- [earlier TokenPost coverage of RLUSD circulation](https://www.tokenpost.com/news/investing/24526)