- Ripple’s RLUSD stablecoin hits $500M market cap in 7 months, ranking top 20 globally.
- RLUSD achieves $26M daily trading volume, backed by cash, equivalents, and treasuries.
- Ripple eyes national bank charter as RLUSD gains traction on XRP Ledger and Ethereum.
Ripple’s U.S. dollar-pegged stablecoin, RLUSD, has reached a significant milestone. Within just seven months of its launch in December 2024, RLUSD’s circulating supply has exceeded $500 million. This development positions RLUSD among the top 20 USD stablecoins by market cap. RLUSD’s daily trading volume stands at approximately $26 million, according to Coingecko.
RLUSD is issued on both the XRP Ledger and Ethereum networks. This multi-chain approach provides broader utility and accessibility across decentralized finance platforms and payment systems. Its presence on two major blockchains enhances interoperability and user engagement across Ripple’s ecosystem. The rising demand for dollar-linked digital assets has contributed to their swift market acceptance. RLUSD’s rapid growth reflects an increasing appetite for stable, regulatory-compliant digital currencies.
Ripple’s Stablecoin Growth Matches Regulatory Shift
The implication that Ripple has entered the stablecoin market fits in with the scope of their strategy. The company has applied to the U.S. Office of the Comptroller of the Currency (OCC) to become a national trust-bank charter. If the charter is accepted, it would permit Ripple to accept customer deposits and issue RLUSD as a local bank under federal laws. Such an occurrence would subject Ripple to similar regulations that general financial institutions face.
The effort mirrors similar moves by other stablecoin issuers, such as Circle, which has also applied for a federal banking license. These regulatory developments are unfolding during a shift in the U.S. government’s stance on digital assets. Under the current Trump administration, regulatory bodies have eased restrictions on financial institutions offering crypto services. This includes the OCC’s updated rules allowing banks to participate in blockchain-related activities.
These favorable changes are providing clarity for companies operating in the stablecoin sector. Ripple’s pursuit of full regulatory compliance could strengthen RLUSD’s credibility and increase institutional adoption. The regulatory path being followed by Ripple may set a precedent for stablecoin issuers seeking legitimacy under U.S. financial laws.
Growing Adoption and Ecosystem Impact of RLUSD
The RLUSD stablecoin is a crucial component of the broader Ripple ecosystem. It complements XRP and RippleNet by providing a stable digital dollar that facilitates the settlement of payments and financial transactions. RLUSD, distributed on Ethereum and XRP Ledger, adds value to cross-border payment and decentralized finance opportunities. Such interoperability is why developers and financial institutions are attracted to it.
Such development of RLUSD can also impact the presence of Ripple on the platforms. The more transactions there are with RLUSD, the more Ripple can use its technologies and services. Although limited movement has been observed in the market price of XRP in recent times, the success of RLUSD may have far-reaching implications for the demand for XRP. New institutional partners can also be interested in the availability of a stablecoin issued by Ripple.
Related: Swiss AMINA Bank Launches RLUSD Stablecoin Service for Institutions
Stablecoin Sector Expansion and RLUSD’s Trajectory
The market for stablecoins has grown significantly, and both institutional investors and consumers are seeking digital dollars. The performance of RLUSD aligns with the general market trend in trading, remittances, and decentralized finance, which involves the use of stablecoins. RLUSD is well-positioned to gain additional market share, thanks to its good infrastructure and compliance efforts, similar to those of Ripple.
Industry watchers will be closely monitoring how RLUSD can achieve a market capitalization of $1 billion. Such a milestone would make it one of the most used and supplied stablecoins globally. With Ripple likely to build more partnerships and infrastructure, the market trend of RLUSD is one of the major concerns of the crypto market.
Consistently trading and gaining market value, RLUSD has become a significant token within the growing financial ecosystem of Ripple. The company’s future planning appears to be focused on controlled expansion and ecosystem augmentation. Furthermore, with the increasing use of stablecoins, RLUSD can become a significant part of the virtual financial landscape.
