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PROGRAMMABLEMONEY

Six pieces of programmable money pulled apart layer by layer, and The Full Stack in the middle showing how they connect. Pick a world to open it.

ANATOMY OF ASTABLECOIN

Peg$1.000
Backing101%
In / out6 / 6
GENIUS8/8
All chapters
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15%
Motion
Theme
Real stablecoin · Anatomy of a Stablecoin

Ripple USD (RLUSD)

Ripple’s dollar, used in Ripple’s payments network. A New York trust company that Ripple owns issues it.

Issuer
Standard Custody, for Ripple
Launched
Dec 2024
Supply
≈ $2.6B
Route
NY trust company
How it is issued
Own license, through a trust company it owns
License
Standard Custody & Trust Company, a New York trust company supervised by NYDFS. Ripple National Trust Bank won final OCC approval in October 2026 and will manage the reserves
Reserves
T-bills (about 64%), government money funds (19%) and cash (17%) (Aug 31, 2026)
Reports
Monthly attestations by Deloitte
Networks
Ethereum holds the most, then the XRP Ledger; also Base, Optimism and others
Yield
No
Access
Exchanges and on ramps such as Uphold, Bitso and MoonPay
GENIUS Act
Issued by a New York trust company, the state route, which covers issuers up to $10B. Not a permitted issuer until the Act takes effect.

Check the supply yourself

More stablecoins

XO ctUSD USDT USDC USDe DAI USD1 USDG PYUSD USDD U TUSD EURC SoFiUSD USDai CASH

Public information as of October 2026, simplified. Not legal or investment advice. Open the full stablecoins world.

Sources165Created by Andres Lamothe