XRP News Today: Growing Interest in Regulated Stablecoins Elevates RLUSD into the Year's Top 10
- Ripple's RLUSD stablecoin surpassed $1B market cap, ranking 10th globally within a year of its 2024 launch. - Its compliance-focused design, dual-chain architecture (XRP + Ethereum), and partnerships with BNY Mellon and institutional clients drive rapid adoption. - RLUSD's 1,278% YTD growth outpaces peers, supported by NYDFS oversight, monthly audits, and expanding African market access via Chipper Cash/VALR. - The stablecoin's institutional utility as collateral and cross-border payment solution positio
Ripple’s RLUSD stablecoin has exceeded a $1 billion market cap, entering the ranks of the top 10 U.S. dollar-backed stablecoins in less than a year since its December 2024 debut. Now holding the 10th spot in the sector, RLUSD sees daily trading volumes near $174 million, reflecting swift uptake fueled by its regulatory compliance and institutional alliances,
RLUSD has posted a remarkable 1,278% growth so far this year, surpassing even established names like PayPal’s PYUSD and First Digital’s
RLUSD’s adoption has been propelled by strategic collaborations. In July, Ripple selected The Bank of New York Mellon (BNY) as the main custodian for RLUSD reserves, The Crypto Basic reported. Further integrations with Brale and Securitize allow businesses to issue USD-pegged stablecoins and support tokenized fund exchanges, The Crypto Basic added. Ripple has also expanded into Africa through partnerships with Chipper Cash and VALR, extending RLUSD’s reach to millions, The Crypto Basic stated. Institutional uptake has increased via Ripple Prime, its newly acquired prime brokerage, where RLUSD is used as collateral for trading, as reported by U.Today.
RLUSD’s strong showing mirrors broader developments in the stablecoin market, now valued at over $200 billion. The token’s 34.7% quarterly growth on the XRP Ledger—bringing its market cap to $88.8 million—solidifies its leading position on the network,
Looking forward, RLUSD’s planned integration with Ripple’s over-the-counter (OTC) desk and global settlement solutions such as Rail could further enhance its use cases, The Crypto Basic reported. The stablecoin’s growth aligns with Ripple’s mission to simplify international payments, with CEO Brad Garlinghouse previously forecasting that the stablecoin market could hit $2 trillion by 2028, as noted by U.Today. As regulatory oversight becomes more stringent, RLUSD’s transparent reserves and multi-chain adaptability position it as a significant contender in the evolving stablecoin sector.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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