OCC approval, a Moody’s A2 rating and the yield rules — checked.
Backed 1:1, BNY custody, monthly attestations. But no FDIC insurance, and the legal protections only arrive in January 2027.
Standard Custody & Trust, supervised by New York’s NYDFS. About $2.6B in circulation — small next to USDT and USDC.
Approved 26 Oct 2026 to manage RLUSD’s reserves. It cannot take deposits, cannot lend, and has no FDIC insurance.
First investment-grade rating for a stablecoin. But holders do not directly own the reserves, and the issuer is not yet bankruptcy-remote.
RLUSD wins on paperwork: regulated issuer, trust bank, a credit rating. It loses on size and track record — months, not years.
Issuer-paid yield is banned under the GENIUS Act. Exchange and DeFi programmes exist — but face case-by-case OCC review and can end.
The comparison table, the worked example, the EU catch and the FAQ — all in the free guide.
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