Ripple’s US dollar-pegged RLUSD has entered the top 10 stablecoins by market cap, reaching $1 billion less than a year after launch.
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Ripple USD, a stablecoin created by XRP issuer Ripple, has surpassed $1 billion market capitalization, marking a significant milestone less than a year after its launch.
, the Ripple USD () stablecoin has achieved a remarkable 1,278% year-to-date growth in market capitalization.
The stablecoin first broke through the $1 billion mark on Monday, just a few days after reaching $900 million on Oct. 24, to CoinGecko data.
“With Ripple Prime, GTreasury, and Rail now joining the effort, RLUSD and XRP will drive faster, efficient and compliant settlement worldwide,” Ripple in an X post on Monday, adding: “This is how we advance the future of finance.”
Although RLUSD remains far behind stablecoin giants such as Tether’s USDt () with $183 billion and Circle’s USDC () with $75 billion in market cap, Ripple’s stablecoin has emerged as a serious contender among US dollar–pegged stablecoins.
At the time of writing, RLUSD ranks as the 10th largest US dollar stablecoin by market capitalization, with daily trading volumes of $174 million, comparable to PayPal USD () and Dai (), which are ranked seventh and fifth, respectively.
Initially marketed as an “enterprise-focused” stablecoin, RLUSD has , particularly through and growing adoption across , such as Xaman.
to data from RWA.xyz, Ethereum-issued RLUSD continues to dominate with an 80% share, while XRP Ledger-based RLUSD has grown to around 20%.
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RLUSD’s milestone came amid Ripple’s announcement on Monday of an expansion of its over-the-counter (OTC) services to include markets.
The OTC expansion followed Ripple’s as part of a $1.25 billion deal .
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