Ripple has minted 14 million RLUSD stablecoins on the Ethereum blockchain in a single day, marking the largest daily issuance since April 25, according to Ripple Stablecoin Tracker. This brings the total number of RLUSD tokens minted in June to 42 million, all of which have been issued on Ethereum rather than Ripple’s own XRP Ledger.
The rapid expansion of RLUSD comes as its total market capitalization nears $450 million, based on the latest data from CoinGecko. The move signals Ripple’s accelerating push into the stablecoin space, targeting broader adoption through Ethereum’s ecosystem despite Ripple’s deep ties to the XRP Ledger.
Earlier this month, RLUSD gained key regulatory approval in Dubai, signaling Ripple’s intention to scale its stablecoin globally. In a strategic move to improve usability, Ripple partnered with AlchemyPay to support RLUSD across hundreds of fiat payment methods including Visa and Apple Pay, making it more accessible for users and merchants worldwide.
Additionally, RLUSD has begun to play a critical role in tokenized real-world assets. Ondo Finance recently launched tokenized U.S. Treasuries on the XRP Ledger, enabling qualified purchasers to mint OUSG using RLUSD. Meanwhile, Circle has expanded support for its own USD Coin (USDC) stablecoin by integrating it into the XRP Ledger, highlighting increased interoperability between blockchain platforms.
Ripple’s stablecoin strategy suggests a strong intent to compete with leading players like USDC and USDT, leveraging both regulatory positioning and ecosystem partnerships. With Ethereum as the launchpad and global access points expanding, RLUSD is quickly becoming a key contender in the stablecoin market.
