USDSvsRLUSD
Sky Dollar vs Ripple USD — side-by-side comparison of supply, chains, backing, and peg data.
Side-by-side
USDS — Sky Dollar
RLUSD — Ripple USD
30-day peg stability dotted line = target · both charts share one scale
What the last 30 days show
Over the last 30 days USDS supply moved -11.1% and RLUSD +2.2% — RLUSD grew faster. Both held within about 4 bps of target across the same window.
Key differences
- USDS is roughly 4.2× larger than RLUSD by USD circulation value ($6.70B vs $1.58B).
- USDS ranks #3 while RLUSD ranks #12 among all tracked stablecoins.
- Both are pegged to the same currency (USD), so they compete directly for the same use cases.
- USDS is a crypto-backed stablecoin; RLUSD is fiat-backed. Different mechanism, different failure modes.
- Reserves differ — USDS holds backed by dai/usdc, RLUSD holds cash & deposits (ripple).
- USDS is deployed on 7 chains — much broader coverage than RLUSD's 2.
- Primary chain differs — most USDS supply lives on Ethereum, while most RLUSD supply is on XRPL.
Full comparison table
| Metric | USDS | RLUSD |
|---|---|---|
| USD circulation value | $6.70B | $1.58B |
| Rank (by USD value) | #3 | #12 |
| Peg | USD | USD |
| Mechanism | crypto-backed | fiat-backed |
| Backing | Backed by DAI/USDC | Cash & deposits (Ripple) |
| Chains deployed | 7 | 2 |
| Primary chain | Ethereum | XRPL |
| Issuer | Sky | Ripple |
| CoinGecko | View → | View → |
Frequently Asked Questions
What's the main difference between USDS and RLUSD?
Both track USD, so they compete for the same use cases. USDS holds backed by dai/usdc; RLUSD holds cash & deposits (ripple). USDS ranks #3 by USD value and RLUSD ranks #12.
Which is bigger, USDS or RLUSD?
USDS is larger, with $6.70B in circulation vs $1.58B for RLUSD. That's roughly 4.2× the size.
Is USDS safer than RLUSD?
Neither is inherently safer. Safety turns on reserve composition, issuer transparency, redemption rights and regulatory oversight — none of which this page audits. USDS uses a crypto-backed model; RLUSD uses a fiat-backed one. Read each issuer's most recent reserve attestation before choosing.
Can I convert between USDS and RLUSD?
Yes. USDS and RLUSD 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 USDS or RLUSD?
The right choice depends on your use case. Consider: which chain do you need? USDS is available on 7 chains and RLUSD on 2. 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.