Ripple USD (RLUSD) Tops $1 Billion Market Cap
Ripple USD (RLUSD), a US dollar-pegged stablecoin issued by Ripple, has exceeded a $1 billion market capitalization. With a current market value of about $1.02 billion, RLUSD ranks among the top 10 largest dollar-backed stablecoins. Its circulating supply is just over 1 billion tokens, each maintaining a 1:1 peg with the US dollar at $1.00.
Regulatory Compliance Drives Growth
RLUSD’s growth is linked to its strong focus on regulatory compliance. The stablecoin launched in December 2024, targeting institutional users and cross-border payments. It is issued by Standard Custody & Trust Company, a Ripple subsidiary chartered by the New York Department of Financial Services (NYDFS).
Each RLUSD token is fully backed by reserves. These include US dollar deposits, short-term US Treasury bonds, and cash equivalents. Monthly reserve attestations are provided by an independent third party for transparency.
Institutional Use and Expanding Adoption
RLUSD supports Ripple’s payment infrastructure, which uses XRP for liquidity. This stablecoin offers institutions an efficient and cost-effective tool for global transactions and liquidity management.
Since its launch, RLUSD has expanded beyond exchanges like Uphold and Bitso. It is now accessible on both the XRP Ledger and the Ethereum blockchain. This expansion has confirmed RLUSD as a strong competitor to stablecoins like Tether’s USDT and Circle’s USDC.
