Ripple Exec Says RLUSD Processes $10B Daily Volume

Ripple’s senior executive officer, Reece Merrick, makes a daring claim about Ripple USD (RLUSD) stablecoin, emphasizing that it clears $10 billion in transaction volume daily. 

Merrick, the Managing Director for the Middle East & Africa at Ripple, made the bold claim during an exclusive interview with Finance World Magazine at the Dubai Fintech Summit. In the interview, Merrick discussed how blockchain, particularly stablecoin, could revolutionize cross‑border payments. 

According to Merrick, roughly 50% of the world’s cross-border settlements are settled in U.S. dollars (USD) despite most of these transactions occurring outside the United States. 

Notably, he stated that stablecoins are becoming an integral part of the evolving cross-border payment sector. He indicated that stablecoins, particularly those pegged to USD, were created to eliminate some inefficiencies associated with the traditional payment system, paving the way for instant and low-cost settlements. 

RLUSD Sees $10B in Daily Volume 

Notably, Ripple launched its dollar-pegged stablecoin last year, enabling users to transfer value instantly without relying on intermediaries. According to Merrick, RLUSD has recorded widespread adoption within seven months of its launch, with its market cap soaring to roughly $300 million. 

Interestingly, he claims RLUSD boasts a daily transaction volume of $10 billion. This implies that RLUSD clears approximately $10 billion in transaction volume daily. 

XRP Community Reacts 

Although Merrick made the bold claim last month, it recently garnered widespread attention from XRP enthusiasts. Community figure Crypto Eri called the public’s attention to the interview in a post on X today.

With Merrick claiming that RLUSD processes up to $10 billion in transactions daily, Eri estimated that the figure translates to an annualized volume of roughly $3.65 trillion. 

Merrick’s remark has sparked debate over whether RLUSD can sustain a daily volume of $10 billion (or an annualized volume of $3.65 trillion) despite its modest market capitalization. 

Vet, a famous dUNL validator, addressed this concern by referencing Tether’s (USDT) record over the past year. According to Vet, even though USDT has a market cap of around $158 billion, its annual volume surpassed $10 trillion last year. 

Moreover, he asserted that USDT is on track to double its milestone this year, having recorded a volume of $1.7 trillion over the past 30 days. 

to bring $3.65 Trillion volume for RLUSD in relation to Tether.

Tether surpassed $10T in 2024 and is on its way to double this in 2025 with over $1T in the last 30D.

Tether has a market cap of $158B and more outstanding coins than most Top 5 stables.

Volume and MC is not… pic.twitter.com/ehge11M9Lz

— Vet (@Vet_X0) June 30, 2025

Clarifications

Based on Vet’s commentary, Tether’s USDT recorded $56.6 billion in daily volume over the past 30 days. Despite this, USDT’s daily volume of $56.6 billion is still significantly lower than its market cap, which stands at around $158 billion. 

This raises questions about Merrick’s claim that RLUSD processes $10 billion in daily transactions on a market cap of roughly $400 million. However, Vet clarified that his attempt to justify the $3.65 trillion annualized volume is purely hypothetical, not an actual projection. 

Notably, there is a likelihood that Merrick intended to declare RLUSD’s daily volume in millions rather than billions. 

In the meantime, data from CoinMarketCap shows that RLUSD has a market cap of $455.23 million and currently ranks as the ninth-largest stablecoin. Its volume has soared by 127.16% over the past day to $22.33 million.