Ripple RLUSD builds liquidity as SEC allows 2% haircut

• Lyla Velez
• February 21, 2026
• News
• 0 Comments

Key Points:

• 2% net-capital haircut enhances broker-dealer efficiency with payment stablecoins.
• Lower capital friction eases RLUSD onboarding for market-making, settlement, client facilitation.
• Regulated desks can integrate RLUSD into custody and trading workflows more smoothly.

Broker-dealers received a capital-efficiency tailwind after staff guidance reduced the net-capital haircut for payment stablecoins to 2%, as reported by Coingape. That shift directly improves institutional access to Ripple’s RLUSD.

A lower haircut means less balance-sheet friction when holding compliant stablecoins for market-making, settlement, or client facilitation. For RLUSD, that can translate into easier onboarding if it satisfies payment-stablecoin criteria.

Institutions may now consider integrating RLUSD into existing custody and trading workflows without the prior capital penalty associated with stablecoin inventory. The practical effect is incremental but material for regulated desks.

SEC stablecoin guidance under Exchange Act Rule 15c3-1

Under Exchange Act Rule 15c3-1, the update clarifies that proprietary positions in qualifying payment stablecoins receive a 2% deduction in net-capital calculations, according to CoinEdition. The change arrives via a staff FAQ rather than formal rulemaking.

The report notes many broker-dealers had treated stablecoins as effectively non-counting assets for capital, which constrained usage. Staff views can be revised, so firms will still weigh legal, operational, and disclosure requirements.

In a published statement, Commissioner Hester M. Peirce welcomed the clarity and highlighted potential benefits for tokenized markets. “Allowing the 2% haircut for payment stablecoins is helpful and supports broader crypto asset activities,” said Hester M. Peirce, Commissioner, at the U.S. Securities and Exchange Commission.

RLUSD liquidity update: $20M mint and 1.53B supply

Ripple expanded RLUSD liquidity with a fresh $20 million mint on Ethereum, according to Blockonomi. The additional issuance increases active circulation across venues.

Total RLUSD supply has risen above 1.53 billion, as per Coinlaw.io. Greater float can support tighter spreads and deeper order books for institutional flows.

Together with the capital-treatment shift, expanded supply positions RLUSD more competitively alongside USDT and USDC, per the same report. Adoption trajectories will still depend on reserve transparency and redemption performance.