[RLUSD Market Cap Hits Record High, Up Over 86% Since the Beginning of the Year] BlockBeats News, September 28: Ripple's stablecoin RLUSD has recently reached a new high in supply, with a market cap of approximately $2.491 billion, up over 86% from $1.336 billion at the beginning of 2026. It is currently only about $248 million short of PayPal's PYUSD, which has a market cap of approximately $2.739 billion. Data shows that RLUSD's supply increased by approximately $112 million over the past week, while PYUSD's supply decreased by approximately $61 million. PYUSD's supply at the beginning of this year was approximately $3.531 billion, peaking at $4.214 billion on March 5, and has since dropped by about 35% from its peak. From the perspective of issuance networks, between September 21 and 28, RLUSD's supply on the XRP Ledger increased from $1.036 billion to $1.099 billion, an increase of approximately $63 million; its supply on Ethereum rose from $1.343 billion to $1.392 billion, an increase of approximately $49 million. Currently, the XRP Ledger accounts for about 44% of RLUSD's total supply, while Ethereum accounts for about 56%. The global stablecoin market cap is currently approximately $306 billion, with RLUSD still occupying a relatively small share. Ripple has recently been actively promoting the application of RLUSD on the XRP Ledger, including use cases such as institutional lending.