Tether vs Ripple USD — side-by-side comparison of supply, chains, backing, and peg data.
| Metric | USDT | RLUSD |
|---|---|---|
| USD circulation value | $183.92B | $1.59B |
| Rank (by USD value) | #1 | #12 |
| Peg | USD | USD |
| Mechanism | fiat-backed | fiat-backed |
| Backing | Cash & T-bills | Cash & deposits (Ripple) |
| Chains deployed | 130 | 2 |
| Primary chain | Tron | XRPL |
| Issuer | Tether | Ripple USD |
| CoinGecko | View → | View → |
Both USDT and RLUSD track USD, but they differ in backing and issuer. USDT is backed by cash & t-bills while RLUSD is backed by cash & deposits (ripple). As of today, USDT ranks #1 and RLUSD ranks #12 among tracked stablecoins.
USDT is larger, with $183.92B in circulation vs $1.59B for RLUSD. That's roughly 116.0× the size.
Neither USDT nor RLUSD is inherently "safer" — safety depends on the specific backing composition, issuer transparency, redemption rights, and regulatory oversight. USDT uses fiat-backed backing model; RLUSD uses fiat-backed. Users should read each issuer's most recent reserve attestation before choosing.
Yes. USDT 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.
The right choice depends on your use case. Consider: which chain do you need? USDT is available on 130 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.