Ripple's RLUSD stablecoin crosses $2B in market cap
Ripple's RLUSD stablecoin has surpassed $2 billion in market cap roughly 20 months after its December 2024 launch, with nearly $1 billion of supply on the XRP Ledger and around $476 million in daily trading volume.
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@Ripple's dollar-pegged stablecoin $RLUSD has crossed $2 billion in market capitalization, reaching the milestone roughly 20 months after its December 2024 launch. The token now ranks 37th among all crypto assets and is posting around $476 million in daily trading volume, according to Ripple.
XRP Ledger Takes the Bulk of Supply
Ripple says close to $1 billion of the total $RLUSD supply is issued directly on the XRP Ledger, with additional deployment on Ethereum and other networks. The NYDFS-regulated stablecoin has nearly $1 billion circulating on the XRP Ledger, with additional deployment on Ethereum and other blockchains.
$RLUSD is fully backed 1:1 by cash and U.S. Treasuries held in segregated accounts at BNY Mellon, with monthly third-party attestations and oversight from the New York Department of Financial Services and the Dubai Financial Services Authority. That regulated structure has helped separate $RLUSD from much of the field as institutional demand for compliant stablecoins grows.
Institutional Push Drives Growth
Ripple's strategy positions the asset for institutional applications rather than retail trading, spanning payments, settlement, liquidity management, tokenization, and decentralized finance. The company has backed that strategy with significant capital. Ripple has spent close to $3 billion on acquisitions to build the infrastructure feeding RLUSD's growth, with Hidden Road providing a prime brokerage arm, Rail handling cross-border stablecoin payments, and GTreasury plugging directly into Fortune 500 treasury operations.
Ripple is also backing a new institutional lending effort built around RLUSD through partnerships with Clearpool and Cicada, positioning the asset for real-world utility beyond retail trading. Meanwhile, Binance and Bybit have extended RLUSD reward programs, offering XRP incentives through September 2026.
The growth comes as the GENIUS Act moves toward implementation, with Treasury rules expected to take effect in January 2027, a regulatory backdrop that is widely seen as favoring compliant, well-reserved stablecoins. Ripple says $RLUSD is "just getting started."
Sources:
Ripple's RLUSD Stablecoin Surpasses $2 Billion Market Cap Amid Institutional Push, BigGo Finance
RLUSD passes $2B, expands credit lending and exchange rewards, Criptolog
Ripple RLUSD Stablecoin Catalyst for XRP, Yahoo Finance
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.