Ripple’s U.S. dollar-backed stablecoin, RLUSD, has achieved a major milestone, surpassing $1 billion in market capitalization less than a year after its launch in December 2024. The token, issued by Standard Custody & Trust Company, Ripple’s New York-regulated subsidiary, is fully backed by U.S. dollar reserves and short-term Treasuries and plays a key role in Ripple’s expanding payments and liquidity ecosystem.
According to CoinGecko, RLUSD is now the 10th largest USD stablecoin by market value. While it still trails behind leading competitors such as Tether (USDT) with $183 billion and Circle’s USDC with $76 billion, its rapid ascent signals strong demand and successful adoption within both institutional and retail markets. Current circulation data from RWA.xyz shows approximately $819 million of RLUSD on the Ethereum blockchain and $203 million on the XRP Ledger network.
Ripple President Monica Long told CoinDesk that the company’s payment services have seen significant growth, processing nearly $100 billion in total transaction volume to date. She noted that RLUSD has become Ripple’s primary stablecoin for global payment flows and that the firm has doubled its customer base over the past year while securing over 75 international licenses.
Ripple has also been expanding aggressively through strategic acquisitions, including Hidden Road (Ripple Prime) for $1.25 billion, Rail for $200 million, as well as GTreasury and Palisade to strengthen its stablecoin and treasury infrastructure. Long emphasized that Ripple’s acquisition strategy focuses on accelerating innovation in stablecoin payments and expanding into new financial verticals.
With a robust balance sheet and growing global footprint, Ripple plans to continue scaling RLUSD’s reach across institutional and on-chain payment ecosystems, reinforcing its position as a key player in the digital asset and blockchain payments industry.
