In a remarkable turn of events, the supply of RLUSD, Ripple’s stablecoin, has surpassed the $1 billion valuation mark.
Market-tracking platforms such as Ripple Stablecoin Tracker on X and CryptoQuant confirm this milestone. With a $1 billion market cap, RLUSD solidifies its position among the top ten largest stablecoins in the market.
RLUSD Overtakes FDUSD
RLUSD has now edged out First Digital USD (FDUSD), which has a market cap of $1.002 billion, while RLUSD stands at $1.027 billion.
This achievement is particularly remarkable considering the coin launched just a year ago. Its valuation has steadily climbed over the past eleven months, as evident in CryptoQuant’s chart.
Notably, the chart shows that 80% of RLUSD tokens are issued on the Ethereum network, while 20% are issued on the XRP Ledger (XRPL). Specifically, Ethereum hosts $819 million worth of RLUSD, while XRPL holds $208 million.
Since its launch, RLUSD has experienced massive adoption, as reflected in its valuation now exceeding $1 billion.
Ripple offers blockchain-based payment, custody, and prime brokerage solutions for institutions, leveraging XRP and its stablecoin RLUSD to streamline traditional finance and promote digital asset adoption.
Massive Adoption and Partnerships
In July, Ripple partnered with The Bank of New York Mellon (BNY) as the primary custodian of reserves backing the RLUSD stablecoin. Since then, adoption has continued to expand.
In September, Ripple teamed up with Securitize to enable investors in BlackRock’s BUIDL and VanEck’s VBILL funds to directly swap their tokenized shares for RLUSD. This partnership introduced always-on smart contracts that provide continuous liquidity for tokenized treasury funds.
Also in September, Ripple expanded RLUSD into African markets through partnerships with Chipper Cash, VALR, and Yellow Card, bringing access to millions of users across the continent.
Just last week, Ripple announced that leading humanitarian organizations, including World Central Kitchen and Water.org, are utilizing the RLUSD stablecoin to transfer funds quickly, transparently, and efficiently across borders.
With Ripple’s blockchain-powered platform, nonprofits can send money globally in seconds, 24/7, without traditional banking delays. Paired with RLUSD, the system enables faster and lower-cost aid delivery.
Regulation and Oversight
Ripple stated that the growing adoption of the RLUSD stablecoin underscores the potential of stablecoins to strengthen global aid delivery and improve financial access.
Notably, RLUSD is fully backed 1:1 by liquid assets, independently verified, and issued under NYDFS oversight. It is also listed on major global exchanges, including Bybit, Gemini, Kraken, Bitso, Bitstamp, and Bullish.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
