Ripple will attend the Stablecon USA held in Washington from September 9th to 11th. Just a few days after the event, the U.S. Senate will face the highly anticipated procedural vote on the CLARITY Act. For Ripple, this appearance highlights a stark contrast: RLUSD has already entered a relatively clear regulatory framework, while the federal rules for XRP and a broader range of crypto assets are still not finalized.
RLUSD is already running within the New York framework.
RLUSD has currently been listed by the New York State Department of Financial Services as a stablecoin that can be issued in New York. Ripple indicates that RLUSD implements reserve fund isolation in accordance with New York State requirements and supports 1:1 redemption to US dollars.
As of September 3, the circulation scale of RLUSD was approximately $2.4 billion, corresponding to reserve assets of about $2.52 billion. The article states that the regulatory environment for stablecoins at the federal level in the United States has also changed. The GENIUS Act passed in 2025 established a federal framework for payment-type stablecoins, and regulatory authorities further clarified in 2026 that payment-type stablecoins that meet certain criteria are generally not treated as securities.
OCC conditionally approves trust banks
In addition to the compliance arrangements for the stablecoin itself, Ripple is also advancing the supporting banking infrastructure. The Federal Reserve Bank of New York (OCC) conditionally approved Ripple National Trust Bank in December 2025. Ripple stated that if it is officially implemented later on, the reserve operations of RLUSD will be subject to regulation at both the OCC level and at the state of New York level.
However, conditional approval does not equate to the bank having obtained final authorization to operate; the relevant processes are not yet fully completed.
Voting on September 15th is of great concern.
Unlike RLUSD, XRP is faced with a different set of Washington-related issues. Although the long-standing litigation with the U.S. Securities and Exchange Commission (SEC) has provided XRP with more legal precedents in the United States than with regard to crypto assets, CLARITY Act focuses on the broader structure of the digital asset market and the division of federal regulatory powers.
Therefore, the vote scheduled for September 15 is still receiving market attention. The article points out that this vote is more of a procedural milestone than the final passage of the bill.
Ripple In June of this year, it expanded its permanent office in Washington. At that time, the company stated its desire to enhance its presence locally as discussions on topics such as market structure, stablecoins, and payment modernization were heating up.
Stablecon USA It is expected that there will be over 2,000 participants and 200 speakers, including the Chairman of the Federal Deposit Insurance Corporation of the United States, Travis Hill. For Ripple, the growth in RLUSD provides more concrete business examples for their participation in these discussions.
Additional information:The article states that the circulation scale of RLUSD has increased from about $700 million a year ago to nearly $2.4 billion, and recent activities on XRPL have also increased with the expansion of this stablecoin.
