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$RLUSD, the stablecoin backed by Ripple Labs, reached a major milestone today, Nov. 3, 2025. Notably, Ripple USD ($RLUSD) officially surpassed $1 billion in market capitalization.
$RLUSD sees massive adoption
According to the Ripple stablecoin tracker, 1,000,000,000 $RLUSD tokens are now live across Ethereum and $XRP Ledger.
A recent single 50 million $RLUSD mint on the XRPL helped push the stablecoin over the $1 billion market cap milestone.
This milestone is a bullish development for the Ripple ecosystem. It suggests growth in the stablecoin, fueled by increased adoption among retail and institutional investors.
$RLUSD has become the fastest-growing regulated stablecoin ever. The stablecoin, which launched on Dec. 17, 2024, grew to $1 billion in little more than 10 months.
$RLUSD officially crossed $1,000,000,000 market cap across Ethereum and the $XRP Ledger.
— Ripple Stablecoin Tracker (@RL_Tracker) November 3, 2025
For context, Tether ($USDT), the largest stablecoin by market cap, took over one year to hit $900 million back in 2015.
The success of $RLUSD points to a maturing market where investors are attracted to investing in assets that comply with regulatory standards. As demand for low-volatility fiat-pegged tokens increases, Ripple predicted that the entire stablecoin market might skyrocket to $2 trillion by 2028.
Following the $RLUSD launch, Ripple President Monica Long commented that it aims to set a new benchmark in the stablecoin landscape. She emphasized that $RLUSD emphasizes trust, utility and compliance.
$RLUSD use cases
$RLUSD claims to be an enterprise-grade, USD-denominated stablecoin. It is one of the few stablecoins issued under a New York Trust Company Charter, which ensures strict oversight and regulation.
Ripple stablecoin is used by banks and fintechs for instant cross-border wires. Traders swap $RLUSD for $XRP on XRPL Decentralized Exchanges (DEXes).
Additionally, DeFi users lend and borrow the stablecoin on Ethereum. Likewise, retailers buy $RLUSD on the Uphold, Bullish, Bitso and MoonPay exchanges.
$RLUSD now sits ahead of PayPal’s PYUSD, First Digital’s FDUSD and many others. Only giants like $USDT and USDC are bigger.
Other recent milestones include Brale's integration with $XRP Ledger for stablecoin issuance. This integration allows businesses to issue USD-backed stablecoins and settle in $RLUSD.
Furthermore, Ripple also announced the completion of its acquisition of prime brokerage Hidden Road, now known as Ripple Prime. Its customers have already begun using $RLUSD as collateral or holding their balances in the stablecoin.