Ripple’s RLUSD enters top 10 USD stablecoins less than year after debut

Ripple USD (RLUSD), the stablecoin issued by XRP issuer Ripple, has achieved a significant milestone by surpassing a $1 billion market capitalization less than a year after its official launch in December 2024. This represents a 1,278% year-to-date growth, with the stablecoin breaking the $1 billion threshold recently after hitting $900 million on October 24th. RLUSD is now ranked as the 10th largest US dollar stablecoin by market capitalization, boasting daily trading volumes of $174 million. Ripple noted that this growth, supported by partners like GTreasury and Rail, will help drive faster, compliant settlement worldwide. Although initially marketed toward enterprises, RLUSD has seen traction with retail users via integrations with platforms like Transak and adoption in self-custodial wallets. Currently, Ethereum-issued RLUSD accounts for 80% of the total supply, with the XRP Ledger version making up about 20%. This milestone coincides with Ripple expanding its OTC services to include digital asset spot prime brokerage for US markets, following its acquisition of Hidden Road.

(Source：Cointelegraph)