Ripple’s RLUSD Gets Boost as CFTC Expands Approved Tokenized Collateral

The U.S. Commodity Futures Trading Commission (CFTC) has expanded its list of eligible tokenized collateral on the regulated futures markets. This provides a boost for Ripple’s RLUSD stablecoin, which could now fall under the definitions of what the CFTC regards as a payment stablecoin, which are eligible collateral for use on the derivatives markets.

CFTC Expands List Of Eligible Collateral, Boosting Ripple’s RLUSD

In an X post, CFTC Chair Mike Selig announced that the commission is expanding the list of eligible tokenized collateral to include stablecoins issued by national trust banks. “With the enactment of the GENIUS Act and the CFTC’s new eligible collateral framework, America is the global leader in stablecoin innovation,” he added.

This is a boost for RLUSD as Ripple is on course to become a national trust bank, with the OCC already granting the crypto firm a conditional approval. It is worth noting that the RLUSD stablecoin had still qualified under the CFTC’s definition of a payment stablecoin in the letter that it issued in December 2025.

Back then, the CFTC stated that payment stablecoins are dollar-backed stablecoins that state-regulated money transmitters or trust companies issue, pending the effective date of the GENIUS Act. The definition would have expanded further to include GENIUS Act-compliant stablecoins when the crypto legislation takes effect next year.

However, with this latest guidance, RLUSD could now fall under both definitions since Ripple already has state oversight and could soon become a national trust bank, having secured a conditional approval.

The CFTC explained that it only became aware after issuing the letter that payment stablecoins could include ones that national trust banks issue. “The division did not intend to exclude national trust banks as issuers and determined to reissue CFTC Letter 25-40 with an expanded definition of ‘payment stablecoin,” the commission added.

RLUSD’s Dominance On The XRP Ledger

On-chain analytics platform Messari recently highlighted RLUSD’s dominance on the XRP Ledger. In a research report, it noted that Ripple’s stablecoin accounted for 58.6% of the total market cap of tokens on the XRPL at the close of the fourth quarter of last year.

This represented an increase from the third quarter of 2025, when the stablecoin only accounted for 27.9% of the total market cap. RLUSD also recorded a 187% increase in its market cap quarter-over-quarter (QoQ) while its holders grew 4.3% QoQ. The stablecoin had closed 2025 with a market cap of $235 million on the XRPL. Its market cap on XRPL currently stands at $246 million.

Meanwhile, CoinMarketCap data show that Ripple’s stablecoin currently has a market cap of almost $1.5 billion (supply on XRPL and Ethereum combined) and currently ranks as the 44th largest crypto by market cap. Notably, top crypto exchange Binance listed RLUSD on Ethereum last month, providing a boost for its adoption.

Ripple also recently secured an electronic money institution license in the EU, which is also a positive for the RLUSD’s adoption. The milestone enables the firm to now operate regulated digital payment services across the European Union.