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Ripple’s dollar-backed stablecoin $RLUSD has surpassed $1.75 billion in market capitalization and is approaching $2 billion less than eighteen months since launch, according to the latest independent monthly attestation published by Ripple.
$RLUSD is now integrated across Binance, Bitso, Bitstamp, Bybit, Gemini, Kraken, LMAX, and OKX, among others.
Turkey Entry
Ripple also announced on June 2 that $RLUSD is now accessible to institutions in Turkey through partnerships with three domestic exchanges: BiLira, Bitexen, and Bitlo.
Turkey is the largest crypto market in the MENA region, processing nearly $200 billion in annual transaction volume according to Chainalysis data, outpacing regional peers by roughly four times. The Capital Markets Board introduced a comprehensive licensing framework in 2024, providing the regulatory foundation that enabled Ripple to bring $RLUSD to Turkish institutional partners.
Each partner cited compliance and regulated infrastructure as the primary reason for integrating $RLUSD rather than competing stablecoins.
New Institutional Integrations
Beyond Turkey, SVP of Stablecoins Jack McDonald outlined developments from the April attestation period.
Ripple Prime, the company’s institutional brokerage arm, integrated with EDX Markets and EDX International, positioning $RLUSD as a potential settlement and collateral asset across spot crypto and perpetual futures trading on those platforms.
$RLUSD also joined Copper HQ’s Stablecoin Rewards Programme, expanding its reach within institutional custody and portfolio management infrastructure.
The $XRP Relationship
The growth in the $RLUSD market cap has renewed discussion about how the stablecoin affects $XRP’s price. $RLUSD handles direct settlements where price stability is required. $XRP functions as the bridge asset in cross-border corridors where on-demand liquidity is the core function.
Experts argue that the two assets serve different roles within the same payment infrastructure rather than competing for the same use case.
Related: $XRP Utility Surges as XRPL Activity Jumps 35% in Q1 2026: Messari