Ripple’s RLUSD and Trump-Backed USD1 Power Bullish’s Massive $1.1 Billion IPO Settlement

Two controversial stablecoins just orchestrated one of crypto's biggest financial plays.

The Power Players

Ripple's freshly minted RLUSD and the Trump-affiliated USD1 stablecoin served as the primary settlement vehicles for Bullish's landmark $1.1 billion public offering. The move signals institutional adoption of alternative digital dollar instruments—bypassing traditional banking channels entirely.

Market Mechanics

The settlement executed flawlessly across blockchain networks, processing nine-figure transactions without intermediary delays. No bank approvals, no wire transfer fees—just pure cryptographic settlement finality.

Political Undertones

USD1's involvement adds partisan flavor to the deal, linking Trump's financial brand to mainstream crypto infrastructure. Because nothing says 'financial revolution' like tying digital assets to presidential campaigns.

Regulatory Chess

The play demonstrates how crypto enterprises increasingly operate parallel to traditional finance—using digital dollars that regulators haven't fully categorized yet. Another brilliant example of 'move fast and break things' applied to global capital markets.

Bullish's billion-dollar bet proves that when traditional finance hesitates, crypto builds its own banking system—complete with political baggage and questionable reserve audits.

RLUSD and USD1 gain institutional momentum

Although Bullish did not disclose the exact RLUSD and USD1 amount minted for the transaction, its involvement highlights growing institutional use of these stablecoins.

Notably, the RLUSD token is also central to Ripple’s $75 million credit facility for Gemini, a US-based crypto exchange.

Gemini’s IPO filing revealed that it secured the agreement in July. The agreement allows access to loans of up to $75 million, with an option to extend to $150 million if performance targets are met.

On the other hand, USD1 was used by the Abu Dhabi investment firm MGX to close its $2 billion deal with Binance, the largest crypto exchange by trading volume.

These deals signal that RLUSD and USD1 are steadily emerging as key players in institutional stablecoin adoption.