Ripple publishes monthly reserve reports for RLUSD through Standard Custody and Trust Company, and the April 2025 report is a useful example of what that transparency actually looks like in practice, not just a promise on a webpage.
Who Actually Issues RLUSD
The reserve report states it plainly: \”Labs Inc., as the ultimate parent company, is a New York limited purpose trust company and the issuer of Ripple USD (‘RLUSD’), a U.S. dollar-denominated stablecoin.\” Standard Custody and Trust Company, operating under New York’s limited purpose trust charter, is responsible for the completeness, accuracy, and validity of the reserves report, which for the April 2025 period covered snapshots as of April 8 and April 30 at 5:00pm Eastern. That structure, a chartered trust company as issuer, subject to New York banking regulation, is a meaningfully different setup than an offshore entity issuing a stablecoin with limited disclosure.
Why Reserve Attestations Matter
A stablecoin is only as trustworthy as the assets backing it. If a dollar-pegged token is not actually fully backed by liquid, high-quality assets, the peg can break under stress, which is exactly what has happened to poorly reserved stablecoins in the past. Regular, dated attestation reports, like the April 2025 RLUSD reserve report, let holders and counterparties check that the backing actually exists on a given date rather than trusting a static claim on a marketing page. Ripple’s transparency page is where these reports get published on an ongoing basis.
What This Means for XRP Ledger
Stablecoins are one of the clearest, least speculative use cases blockchain networks have found: moving dollar-denominated value quickly and cheaply for payments and treasury operations, without the settlement lag of the traditional banking system. RLUSD activity, backed by regular attestations, gives XRP Ledger a functional role in that market, separate from XRP’s own price. Read the reserve reports directly on Ripple’s RLUSD page if you want to track this over time rather than take any single snapshot as the full picture.
Educational only, not tax, legal, or investment advice. Check primary sources and speak with a qualified professional before making financial decisions.
