USDC ↔ RLUSD

Circle · USA

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

1,000.00 RLUSD

Low costConverting $1,000 of USDC yields no cost less RLUSD 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

$10,000 gets 0.01pp less than $1,000

$1,000 $10,000

Route chosen by the test order

Right now it converts directly, without XRP

USDC

RLUSD

Filled by 1 direct orders

USDC liquidity pool

Used alongside orders when routing through XRP

XRP / USDC
104,162 XRP + 134,158 USDC · trading fee 0.097%
$268K
RLUSD / USDC
25,104 RLUSD + 25,087 USDC · trading fee 0.144%
$50K

Cost history

Recorded at every check, for $10,000

Oct 21, 04:49 UTC0.02% below the reference rate Low cost
Oct 21, 04:17 UTC0.02% below the reference rate Low cost
Oct 21, 04:12 UTC0.02% below the reference rate Low cost
Oct 21, 04:09 UTC0.02% below the reference rate Low cost
Oct 21, 04:05 UTC

How was this measured?

Method

We pick a real wallet holding USDC and simulate an immediate order to RLUSD 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": "rMgihjugNdXDgKPSGwqVMZAVxp2Yk17C3w",
        "TakerGets": {
          "value": "1000",
          "issuer": "rGm7WCVp9gb4jZHWTEtGUr4dd74z2XuWhE",
          "currency": "5553444300000000000000000000000000000000"
        },
        "TakerPays": {
          "value": "0.000001",
          "issuer": "rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De",
          "currency": "524C555344000000000000000000000000000000"
        },
        "TransactionType": "OfferCreate"
      }
    }
  ]
}

Is this USDC genuine?

Listed in Circle's official documentation.

Official issuer . Impostor list

Reference rate 2026-10-23 · Oct 26, 06:08 UTC