Ripple USD Reaches $1 Billion Market Cap in Less Than One Year
Ripple USD (RLUSD), the stablecoin issued by Ripple, has exceeded $1 billion in market capitalization for the first time. The milestone comes less than a year after its initial launch, reflecting rapid adoption and growth in a competitive stablecoin market.
Significant Growth since Launch
According to CoinGecko data, RLUSD has recorded a 1,278% increase in market capitalization year-to-date. The stablecoin crossed the $1 billion threshold on Monday, only days after reaching $900 million on October 24. Despite being surpassed by leading stablecoins such as Tether's USDT (with $183 billion in market capitalization) and Circle's USDC ($75 billion), RLUSD ranks as the 10th largest U.S. dollar�pegged stablecoin by market cap.
Enterprise and Platform Adoption
Ripple has positioned RLUSD as an 'enterprise-focused' stablecoin. The company highlighted in a statement that Ripple Prime, GTreasury, and Rail have joined its settlement network, aiming to deliver faster and more compliant settlements. Trading volume for RLUSD is reported at $174 million per day, putting it on par with PayPal USD (PYUSD) and Dai (DAI), both ranked higher by market capitalization.
Data from RWA.xyz shows that the Ethereum-based version of RLUSD holds about 80% of the circulating supply, while the XRP Ledger variant accounts for roughly 20%. RLUSD is also being adopted in various applications, including the Xaman platform.
Expansion of OTC Services
The new market cap high coincides with Ripple's announcement to extend its over-the-counter (OTC) services to additional markets. The development is part of a broader $1.25 billion strategic initiative revealed earlier this year.
RLUSD�s growth and new service offerings highlight Ripple�s ongoing strategy to compete in the U.S. dollar�stablecoin sector and expand its network of enterprise partners.
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