Moody's assigned an A2 long-term and P-1 short-term deposit rating to Ripple USD (RLUSD), a dollar-backed stablecoin issued by Ripple's Standard Custody & Trust Company, citing reserves held mainly in short-term U.S. government assets and cash with a 103% coverage target. The rating follows final OCC approval of Ripple National Trust Bank, which will manage the reserves, and RLUSD remains under both state and federal supervision. Moody's noted that Standard Custody is not bankruptcy-remote and holders have no direct ownership of the reserves, though the GENIUS Act due to take effect in 2027 would exclude required reserves from an issuer's bankruptcy estate. RLUSD has a market cap of about $2.6 billion within a stablecoin market of some $300 billion, and Ripple targets institutions rather than retail traders. Standard Chartered began offering institutional custody of RLUSD through its Dubai branch earlier this month.
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Related tickers and likely impact
XRP/USDT
▲ Likely positiveXRP
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $82.0B |
| Close on 10/27/2026 | 1.33130 |
| Change that session | +1.69% |
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