USDC ↔ RLUSD

Circle · USA

Converting 1,000 RLUSD ($1,000) to USDC gives

999.96 USDC

Low costConverting $1,000 of RLUSD yields no cost less USDC than the reference rate impliesConversion costHow much less you receive on a $10,000 conversion than the ECB reference rate would give. Under 1% counts as low cost.Read the guide

Converting $10,000 instead of $1,000 costs no extra

$1,000 $10,000

Route chosen by the test order

Right now it converts directly, without XRP

RLUSD

USDC

Filled by 2 direct orders

USDC liquidity pool

Used alongside orders when routing through XRP

XRP / USDC
104,107 XRP + 134,233 USDC · trading fee 0.097%
$268K
RLUSD / USDC
25,105 RLUSD + 25,088 USDC · trading fee 0.144%
$50K

Cost history

Recorded at every check, for $10,000

Oct 26, 08:48 UTCno cost Low cost
Oct 26, 06:08 UTCno cost Low cost
Oct 26, 04:07 UTC0.01% below the reference rate Low cost
Oct 26, 03:58 UTC0.01% below the reference rate Low cost
Oct 25, 01:48 UTC0.02% below the reference rate

How was this measured?

Method

We pick a real wallet holding RLUSD and simulate an immediate order to USDC with the ledger's simulate method. Nothing is submitted. We choose wallets without open orders so their own offers don't mix in.

Verify it yourself

Send this request to a public server (s2.ripple.com:51234) to reproduce it.

{
  "method": "simulate",
  "params": [
    {
      "tx_json": {
        "Flags": 655360,
        "Account": "r9c6A65SmhhZALrkMTpqc9X3kGjv5gtNNk",
        "TakerGets": {
          "value": "1000",
          "issuer": "rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De",
          "currency": "524C555344000000000000000000000000000000"
        },
        "TakerPays": {
          "value": "0.000001",
          "issuer": "rGm7WCVp9gb4jZHWTEtGUr4dd74z2XuWhE",
          "currency": "5553444300000000000000000000000000000000"
        },
        "TransactionType": "OfferCreate"
      }
    }
  ]
}

Is this USDC genuine?

Listed in Circle's official documentation.

Official issuer . Impostor list

Reference rate 2026-10-23 · Oct 26, 08:48 UTC