Ripple USD (RLUSD) surpasses $1 billion market capitalization to become the biggest stablecoin on the XRP Ledger.
Ripple executives Monica Long and Jack McDonald are excited about their platform’s arrival and claim this is just the start of their work.
Ripple Prime and XRPL are becoming quicker, compliant, and more global in terms of settlement as RLUSD gain new listings and real-world use cases.
Ripple has reached an important milestone on its path to dominate the stablecoin market, with Ripple USD (RLUSD), which launched in December 2024, achieving more than $1 billion in total market capitalization, according to CoinMarketCap.
The total supply of RLUSD is 1.02 billion, and it is the largest stablecoin minted on the XRP Ledger; the stablecoin is mintable on both Ethereum and XRPL. Ripple seized the moment by offering a quote that referred to the growing importance of Ripple in the global settlement landscape.
Jack McDonald, Senior Vice President of Stablecoins at Ripple, congratulated his team for their hard work, saying he was “proud of the stablecoins team at Ripple” at the time of RLUSD’s total value milestone, which led Monica Long, Ripple’s President, to say,
“The RLUSD team puts the pedal to the metal, every day, I’m impressed! Congrats Jack McDonald and team on this incredible milestone.”
Long’s quote contained the tone of a company that is already anticipating RLUSD being the start of their milestones and has future momentum toward global popularity.
Ripple suggested that the $1 billion milestone is just the beginning. In its post, the company mentioned that with Ripple Prime, GTreasury, and Rail, Ripple USD and XRP will facilitate quicker, more efficient, and compliant settlements around the world.
Ripple’s purchase of Hidden Road (now Ripple Prime) was a strategic move into prime brokerage. Ripple Prime’s digital asset spot prime brokerage capabilities now allow clients to engage in OTC spot transactions and even access those transaction capabilities across major digital assets and stablecoins, like XRP and RLUSD.
In addition to being utilized in settlements, RLUSD is now also collateralized in multiple prime brokerage offerings, providing real usage and indication that more institutional users are interested in using RLUSD.
XRPL and Ripple USD: Driving the Next Phase of Digital Finance
Now, RLUSD is being utilized for another purpose – after being listed on Bitpanda (Europe’s largest retail crypto broker) at the end of October. Additional exchange listings anticipated soon, another indication that the Ripple ecosystem is taking its global anticipated growth.
Ripple is conveying its message. The XRPL and RLUSD not only build bridges across networks – they are creating a new transfer mechanism with digital money.
