RLUSD Tops $1B Market Cap, Joins Top 10 Stablecoins
Ripple USD (RLUSD), the US dollar–backed stablecoin launched by Ripple in December 2024, has surpassed a $1 billion market capitalization in under a year, joining the top 10 dollar-pegged stablecoins. RLUSD’s market cap has surged over 1,200% year-to-date, driven by strong institutional demand and partnerships through Ripple Prime, GTreasury and Rail. Fully backed 1:1 by cash and short-term US Treasuries and issued under a New York Department of Financial Services charter, RLUSD emphasises regulatory compliance and transparency via monthly third-party attestations. Available on both the XRP Ledger and Ethereum, it supports fast, low-cost cross-border payments and corporate treasury operations. While RLUSD still trails Tether (USDT) and Circle’s USDC in overall scale, its rapid growth underscores Ripple’s post-SEC victory momentum and the expanding role of regulated digital dollars.
Bullish
RLUSD’s rapid adoption, strong year-to-date growth, and institutional partnerships signal robust demand and market confidence. Regulatory clarity under a NYDFS charter and monthly audits reduce perceived risk, supporting stablecoin stability. In the short term, surpassing the $1 billion cap could spur further inflows and trading volume, while long-term compliance and cross-chain availability (XRP Ledger and Ethereum) underpin sustained growth. Overall, these factors point to bullish prospects for RLUSD.