Ripple USD (XRP) Continues to Expand Its Footprint in Institutional and Retail Markets

Ripple’s flagship cryptocurrency, XRP, is once again in the spotlight as the company and its partners push the adoption of the XRP Ledger in both traditional finance and decentralized finance. Recent developments show a broadening of XRP’s use cases—from on‑chain bonds that reward investors with XRP tokens to regulatory clarification that eases the use of payment stablecoins, including Ripple’s RLUSD. Meanwhile, a new yield protocol on the XRP Ledger is opening additional avenues for RLUSD holders.

SBI Holdings Introduces Blockchain‑Based Bonds with XRP Rewards

Japan’s financial conglomerate SBI Holdings has announced the launch of its first blockchain‑based bond, the SBI START Bonds, on February 21. The 10 billion yen (~$64.5 million) issuance is fully managed on‑chain via the “ibet for Fin” platform on BOOSTRY, a specialist enterprise‑blockchain provider. The bonds, with a 3‑year maturity, carry an indicative annual yield of 1.85 % to 2.45 % paid semi‑annually and include a novel incentive: XRP rewards for retail investors.

Key details:

  • Investors who purchase at least 100,000 yen ($650) and hold an account with SBI VC Trade qualify for XRP rewards.
  • The reward structure equates to 200 yen in XRP per 100,000 yen invested, paid at issuance and at each semi‑annual interest payment until 2029.
  • Secondary trading is slated to begin on March 25 through the Osaka Digital Exchange’s proprietary “START” system.
  • The initiative builds on SBI’s long‑standing partnership with Ripple, which dates back to 2016, and underscores the company’s ongoing commitment to integrating XRP into mainstream financial products.

By tying traditional fixed‑income returns to a blockchain‑backed asset, SBI demonstrates that XRP can serve as a bridge between conventional finance and digital asset innovation. The bond’s structure also highlights the flexibility of the XRP Ledger, which can support a range of tokenized financial instruments while preserving the speed, low cost, and auditability that have become synonymous with Ripple’s technology.

SEC Guidance Lowers Haircut on Payment Stablecoins, Boosting RLUSD

On the same day, the U.S. Securities and Exchange Commission issued guidance that is poised to lower regulatory friction for payment stablecoins. The Commission stated that broker‑dealers may apply only a 2 % haircut when calculating net capital against proprietary positions in a payment stablecoin, rather than the previously common 100 % haircut.

Implications for Ripple’s RLUSD and other stablecoins include:

  • Greater capital efficiency for broker‑dealers, making it easier to incorporate RLUSD into traditional trading systems.
  • Alignment with the haircut applied to money‑market funds, which the SEC views as a comparable instrument.
  • A regulatory environment that encourages the integration of on‑chain assets into legacy financial infrastructures.

Paul Atkins, SEC Chair, described the guidance as a “great step to unlock access to on‑chain markets,” a sentiment echoed by market participants who see stablecoins as the next frontier for bridging DeFi and TradFi.

ORQO’s Yield Protocol on the XRP Ledger Unlocks RLUSD Utility

In a complementary development, ORQO Group launched a yield protocol on the XRP Ledger that allows RLUSD holders to earn fixed returns backed by tokenized real‑world assets. The protocol, introduced on February 19, expands the ecosystem’s utility for RLUSD by linking it to a tangible yield‑generating asset class.

Noteworthy aspects of the ORQO initiative:

  • RLUSD is leveraged as a stablecoin collateral, providing users with a predictable yield stream.
  • The protocol integrates with the XRP Ledger’s high‑throughput architecture, ensuring that yield distribution occurs quickly and transparently.
  • By tokenizing real‑world assets, ORQO offers a hybrid approach that blends the stability of RLUSD with exposure to physical asset performance.

This new use case illustrates how Ripple’s stablecoin can be incorporated into sophisticated DeFi protocols, offering investors diversified avenues for capital deployment beyond simple hold‑and‑trade strategies.

Ripple USD’s Market Context

As of February 20, 2026, Ripple USD (XRP) traded at $0.999908, almost breakeven with its nominal face value. Over the past 52 weeks, the token reached a high of $1.00646 on April 1, 2025, and a low of $0.991675 on March 26, 2025. With a market capitalization of roughly $1.56 billion, XRP remains a significant player among crypto‑assets, especially in cross‑border payments and liquidity provisioning.

The confluence of SBI’s bond offering, SEC regulatory easing, and ORQO’s yield protocol signals a growing acceptance of Ripple’s ecosystem within both traditional and decentralized finance sectors. These developments suggest that XRP and its associated stablecoins are maturing from niche digital payment tools into integral components of the broader financial infrastructure.