cointelegraph.com
Ripple USD, a stablecoin created by $XRP issuer Ripple, has surpassed $1 billion market capitalization, marking a significant milestone less than a year after its launch.
Officially launched in December 2024, the Ripple USD ($RLUSD) stablecoin has achieved a remarkable 1,278% year-to-date growth in market capitalization.
The stablecoin first broke through the $1 billion mark on Monday, just a few days after reaching $900 million on Oct. 24, according to CoinGecko data.
“With Ripple Prime, GTreasury, and Rail now joining the effort, $RLUSD and $XRP will drive faster, efficient and compliant settlement worldwide,” Ripple said in an X post on Monday, adding: “This is how we advance the future of finance.”
10th largest US dollar stablecoin
Although $RLUSD remains far behind stablecoin giants such as Tether’s $USDT ($USDT) with $183 billion and Circle’s $USDC ($USDC) with $75 billion in market cap, Ripple’s stablecoin has emerged as a serious contender among US dollar–pegged stablecoins.
At the time of writing, $RLUSD ranks as the 10th largest US dollar stablecoin by market capitalization, with daily trading volumes of $174 million, comparable to PayPal USD (PYUSD) and Dai (DAI), which are ranked seventh and fifth, respectively.
Initially marketed as an “enterprise-focused” stablecoin, $RLUSD has gained notable traction among retail users, particularly through integrations with platforms like Transak and growing adoption across self-custodial wallets, such as Xaman.
According to data from RWA.xyz, Ethereum-issued $RLUSD continues to dominate with an 80% share, while $XRP Ledger-based $RLUSD has grown to around 20%.
Related: Ripple seeks to buy $1 billion $XRP tokens for new treasury: Report
$RLUSD’s milestone came amid Ripple’s announcement on Monday of an expansion of its over-the-counter (OTC) services to include digital asset spot prime brokerage for US markets.
The OTC expansion followed Ripple’s acquisition of crypto-friendly prime broker Hidden Road as part of a $1.25 billion deal finalized in October.
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