RLUSDvsUSDY
Ripple USD vs Ondo US Dollar Yield — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
RLUSD — Ripple USD
USDY — Ondo US Dollar Yield
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days RLUSD supply moved +33.0% and USDY +2.8% — RLUSD grew faster. RLUSD held the tighter band: worst deviation 4 bps against 1462 bps.
Key differences
- RLUSD and USDY are similar in size — within 10% of each other by USD-equivalent value.
- RLUSD ranks #11 while USDY ranks #12 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- Both are fiat-backed stablecoins, so the mechanism is not what separates them.
- Reserves differ — RLUSD holds cash & deposits (ripple), USDY holds tokenized us treasuries (ondo).
- USDY is deployed on 16 chains — much broader coverage than RLUSD's 2.
Full comparison table
| Metric | RLUSD | USDY |
|---|---|---|
| USD circulation value | $2.34B | $2.21B |
| Rank (by USD value) | #11 | #12 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & deposits (Ripple) | Tokenized US Treasuries (Ondo) |
| Chains deployed | 2 | 16 |
| Primary chain | Ethereum | Ethereum |
| Issuer | Ripple | Ondo Finance |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between RLUSD and USDY?
Both track USD, so they compete for the same use cases. RLUSD holds cash & deposits (ripple); USDY holds tokenized us treasuries (ondo). RLUSD ranks #11 by USD value and USDY ranks #12.
Which is bigger, RLUSD or USDY?
RLUSD is larger, with $2.34B in circulation vs $2.21B for USDY. That's roughly 1.1× the size.
Is RLUSD safer than USDY?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. Both use a fiat-backed model, so the difference sits in the issuer and the reserves rather than the design. Read each issuer's most recent reserve attestation before choosing.
Can I convert between RLUSD and USDY?
Yes. RLUSD and USDY both trade on major centralized and decentralized exchanges. Since both track USD, the exchange rate is typically very close to 1:1. Direct swap protocols on Ethereum, Solana, and other chains offer the tightest spreads.
Should I choose RLUSD or USDY?
The right choice depends on your use case. Consider: which chain do you need? RLUSD is available on 2 chains and USDY on 16. What backing do you prefer? What's your integration surface (exchanges, DeFi protocols, payment providers)? Both have deep liquidity, so market cap alone shouldn't decide it.