Ripple’s RLUSD Stablecoin Market Cap Surpasses $1 Billion

Nearly a year after its launch, Ripple’s RLUSD stablecoin has surpassed $1 billion in market capitalization, ranking 10th among the largest U.S. dollar–pegged stablecoins. Since the beginning of the year, the digital asset has grown by 1,278%.

Standard Custody & Trust Company, a subsidiary of Ripple, issues RLUSD under the oversight of the New York Department of Financial Services (NYDFS). The stablecoin operates on both the Ethereum and XRP Ledger networks.
According to RWA.xyz, about 80% of RLUSD remains issued on Ethereum, while the share on the XRP Ledger has increased to roughly 20%.

Although RLUSD still lags far behind major stablecoin giants such as Tether’s USDT ($183 billion) and Circle’s USDC ($75 billion), it has become a formidable competitor to other U.S. dollar–backed stablecoins.

As of the time of writing, RLUSD ranked 10th among USD-pegged stablecoins by market cap, with a daily trading volume of $174 billion — comparable to PayPal USD and Dai, which hold the 7th and 5th places, respectively.

Originally targeted at institutional users, RLUSD has gained traction among retail investors as well, thanks to integration with platforms like Transak and the growing adoption of non-custodial wallets such as Xaman.

See also: "Bitcoin Price Today: Falls Below $100K, Enters Bear Market"

#Stablecoins #Capitalization

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