Key Takeaways
- • Moody's has assigned Ripple's RLUSD stablecoin an A2 long-term and Prime-1 (P-1) short-term deposit rating, making it the first stablecoin to receive an investment-grade rating under Moody's new framework.
- • The rating is supported by RLUSD's 103% reserve coverage, with BNY Mellon serving as primary custodian, and a circulating supply of about $2.5 billion.
- • Moody's stresses the rating helps institutions assess RLUSD's repayment capacity but does not guarantee redemption or maintenance of the stablecoin's peg.
- • The rating signals growing institutional acceptance but does not automatically translate into broader bank approval or usage.
Summary
Moody's has given Ripple's RLUSD stablecoin an A2 long-term deposit rating and a Prime-1 (P-1) short-term deposit rating, according to the original report. The company describes RLUSD as the first stablecoin to receive an investment-grade rating under its new framework for stablecoins.
The rating reflects RLUSD's reserve coverage of 103% and the use of BNY Mellon as its primary custodian. The stablecoin had a circulating supply of about $2.5 billion at the time of the announcement. The rating coincides with Ripple's expanding banking partnerships, which the report cites as evidence of growing institutional engagement.
The rating is designed to help institutions assess RLUSD's capacity to meet its repayment obligations. It does not guarantee redemption rights or the maintenance of the stablecoin's peg to the US dollar. The report also notes that the rating does not automatically translate into wider bank approval or usage of the token.
Following the announcement, XRP, Ripple's native token, was trading at Rp24.195 on the Indonesian trading platform Pluang, up 3.00% over the prior day as of Oct 28, 2026, 16:31 WIB. XRP's market capitalization on the platform was reported at Rp1.534,37 trillion, with 24-hour trading volume of Rp29,77 trillion. Pluang data showed a selling bias among its users, with 65% of orders on the sell side and a typical holding period of 72 days.
The rating reflects RLUSD's reserve coverage of 103% and the use of BNY Mellon as its primary custodian. The stablecoin had a circulating supply of about $2.5 billion at the time of the announcement. The rating coincides with Ripple's expanding banking partnerships, which the report cites as evidence of growing institutional engagement.
The rating is designed to help institutions assess RLUSD's capacity to meet its repayment obligations. It does not guarantee redemption rights or the maintenance of the stablecoin's peg to the US dollar. The report also notes that the rating does not automatically translate into wider bank approval or usage of the token.
Following the announcement, XRP, Ripple's native token, was trading at Rp24.195 on the Indonesian trading platform Pluang, up 3.00% over the prior day as of Oct 28, 2026, 16:31 WIB. XRP's market capitalization on the platform was reported at Rp1.534,37 trillion, with 24-hour trading volume of Rp29,77 trillion. Pluang data showed a selling bias among its users, with 65% of orders on the sell side and a typical holding period of 72 days.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.