South Korea launches a $900B blockchain bond pilot as XRP Ledger stablecoin supply reaches $980M, led by RLUSD growth.
South Korea’s push toward blockchain finance gained fresh attention as the country moved forward with a bond pilot tied to a market worth about $900 billion.
At the same time, Ripple’s XRP Ledger continued expanding its stablecoin footprint, bringing total supply close to the $1 billion mark.
New on chain data showed steady growth across the network, while market participants tracked changes in liquidity and adoption. The latest updates highlight two separate developments shaping the crypto sector.
XRP Ledger Stablecoin Supply Climbs Toward $1 Billion
BSC News shared on X that the XRP Ledger’s stablecoin supply increased by more than 5% over the past week. The update placed the network’s total stablecoin value at about $980 million.
XRP Ledger closes in on stablecoin dominance.@Ripple‘s $XRPL has seen a +5% surge in its stablecoin supply this past week, reaching a total of $980M, just inches from the unicorn milestone.
Despite this, $XRP Ledger’s TVL remains very low for a network of its stature, standing… pic.twitter.com/mjHB59ApgK
— BSCN (@BSCNews) July 19, 2026
Live data from DefiLlama supported those figures during the time of reporting. The dashboard showed total XRPL stablecoin market capitalization at $980.33 million, with a weekly increase of roughly $47.4 million.
Ripple USD (RLUSD) remained the largest stablecoin on the network. It accounted for about 90% of the total supply, while USDV ranked second after recording faster weekly growth.
The latest figures extend a trend that has developed throughout 2026. Earlier this year, XRPL briefly moved above the $1 billion level before returning to a range between roughly $760 million and $980 million.
Ripple RLUSD Growth Outpaces Ethereum Supply
RLUSD has continued shifting toward the XRP Ledger during recent months. Earlier in 2026, a larger share of the stablecoin circulated on Ethereum.
Recent market data showed that more than half of RLUSD’s circulating supply now sits on XRPL. That change makes the XRP Ledger the stablecoin’s primary blockchain by supply.
Trading activity has also increased. Reports tracking RLUSD recorded more than $2.5 billion in trading volume through XRPL pairs since the stablecoin launched in 2025.
Despite that expansion, decentralized finance activity remains limited.
DefiLlama placed XRPL’s total value locked at about $32.8 million during the time of reporting, creating a wide gap between stablecoin supply and capital deployed into DeFi protocols.
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XRP Price Holds Steady as South Korea Advances Blockchain Bond Pilot
At the time of writing, XRP was at $1.09 on CoinMarketCap. Market capitalized at around $68.4 billion, the cryptocurrency was the sixth largest by market cap.
Daily trading volume saw $611 million, and circulating supply was near 62.46 billion XRP.
Other market trackers reported similar figures, with small differences caused by data collection timing.
Away from price action, South Korea continued expanding blockchain adoption through a pilot tied to its bond market.
The initiative targets a financial market valued at roughly $900 billion, reflecting wider institutional interest in blockchain infrastructure.
Together, the blockchain pilot and XRPL’s stablecoin growth illustrate separate developments across public and institutional crypto markets.
Investors continue monitoring both adoption trends and on chain activity as the sector evolves.
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