Ripple’s stablecoin RLUSD has surpassed $1 billion in market capitalization less than a year after its December 2024 launch, placing it among the top 10 dollar-backed stablecoins. RLUSD is issued by Standard Custody & Trust Company, Ripple’s New York-regulated unit, and is backed by dollar reserves and U.S. Treasuries. Early adoption has been driven by Ripple’s strong institutional network, though retail uptake is also rising.
Ripple president Monica Long told CoinDesk that the company has now processed nearly $100 billion in payments, with RLUSD serving as its primary settlement token. Ripple has doubled its customer base this year and holds over 75 global licenses.
To accelerate growth, Ripple is executing a series of acquisitions including prime broker Hidden Road, stablecoin payments firm Rail, treasury platform GTreasury, and wallet startup Palisade. While RLUSD remains smaller than USDT and USDC, its rapid ascent signals Ripple’s push to expand its payments and liquidity footprint globally.
You need to login in order to Like
Leave a comment