XRP Ledger Stablecoin Supply Nears $1 Billion as South Korea Launches $900 Billion Blockchain-Based Bond Pilot
South Korea Accelerates Blockchain Adoption as XRP Ledger Stablecoin Supply Nears $1 Billion
South Korea is accelerating its adoption of blockchain technology in the financial sector by launching a pilot program for its approximately $900 billion bond market. The move comes as the XRP Ledger (XRPL) ecosystem continues to expand, with its stablecoin supply approaching the $1 billion milestone.
XRPL Stablecoin Supply Nears $1 Billion
According to BSC News, the total stablecoin supply on the XRP Ledger increased by more than 5% over the past week to around $980 million. Data from DefiLlama shows the network’s stablecoin market capitalization reached $980.33 million, up approximately $47.4 million from the previous week.
The growth brings XRP Ledger closer to the symbolic $1 billion stablecoin milestone. Most of the increase was driven by Ripple USD (RLUSD), which accounts for about 90% of the network’s total stablecoin market capitalization. Meanwhile, USDV remains the second-largest stablecoin on XRPL after posting another period of growth.
Throughout 2026, XRPL’s stablecoin supply has fluctuated. The network briefly surpassed the $1 billion mark earlier this year before stabilizing within the $760 million to $980 million range in recent months.
RLUSD Migration Strengthens XRP Ledger’s Position
Recent data show that more than half of RLUSD’s circulating supply is now hosted on the XRP Ledger. Until early 2026, the stablecoin was primarily issued on Ethereum. However, continued liquidity migration has made XRPL the primary blockchain for RLUSD by circulating supply.
Since its launch in 2025, cumulative trading volume for RLUSD trading pairs on XRP Ledger has surpassed $2.5 billion.
Despite the rapid growth in stablecoin supply, decentralized finance (DeFi) activity on XRPL remains relatively limited. According to DefiLlama, the network’s total value locked (TVL) stands at approximately $32.8 million, significantly lower than its circulating stablecoin supply.
XRP Price Holds Steady
Amid these developments, XRP is trading at around $1.09 with a market capitalization of approximately $68.4 billion, making it the sixth-largest cryptocurrency by market value.
Daily trading volume stands at roughly $611 million, while XRP’s circulating supply is approximately 62.46 billion tokens.
South Korea Tests Blockchain-Based Bonds
Meanwhile, South Korea has launched a pilot program to digitize its roughly $900 billion bond market using blockchain technology. The initiative reflects growing institutional interest in leveraging blockchain to improve the efficiency of financial market infrastructure.
Ripple, the U.S.-based technology company behind the XRP Ledger, continues to expand its ecosystem through the growth of RLUSD.
Developments in both South Korea and the XRP Ledger underscore the increasing adoption of blockchain technology across traditional finance and the cryptocurrency industry. Market analysts continue to monitor adoption trends, network growth, and liquidity as the blockchain sector continues to mature.
