Ripple’s enterprise-grade stablecoin achieves billion-dollar milestone in under a year, signaling rising competition in the USD-pegged sector
Ripple’s US dollar–pegged stablecoin RLUSD has reached a $1 billion market capitalization, less than a year after its December 2024 launch — placing it among the top 10 USD stablecoins globally, according to recent market data.
The milestone marks a 1,278% year-to-date increase in RLUSD’s market cap, a performance that reflects both institutional and retail adoption of Ripple’s growing payment ecosystem. The token first crossed the billion-dollar threshold on Monday, just days after climbing past $900 million on Oct. 24, based on CoinGecko figures.
“With Ripple Prime, GTreasury, and Rail now joining the effort, RLUSD and XRP will drive faster, efficient, and compliant settlement worldwide,” Ripple said in a statement on X. “This is how we advance the future of finance.”
RLUSD: One Year, One Billion → $1B+ Market Cap → 1:1 USD-backed → The #1 trusted and transparent stablecoin for institutions
With Ripple Prime, GTreasury, and Rail now joining the effort, $RLUSD and $XRP will drive faster, efficient and compliant settlement worldwide. This is… pic.twitter.com/DV1oS5TEY0
Although RLUSD remains far smaller than Tether’s USDT ($183 billion) and Circle’s USDC ($75 billion), it has quickly emerged as a serious challenger in a sector long dominated by established issuers.
At present, RLUSD ranks 10th among USD-backed stablecoins, posting daily trading volumes of roughly $174 million — comparable to PayPal USD (PYUSD) and Dai (DAI), which hold the seventh and fifth positions, respectively.
Top 10 USD-pegged stablecoins by market capitalization
Ripple originally positioned RLUSD as an enterprise-focused stablecoin, designed for institutional liquidity and cross-border settlements. However, retail adoption has accelerated through integrations with Transak and self-custodial wallets such as Xaman, extending its reach across consumer markets.
“Ripple’s early traction with RLUSD shows how trust and liquidity can scale quickly when backed by established payment infrastructure,” said a digital asset analyst at a Singapore-based fintech firm. “The market clearly sees it as more than just another stablecoin — it’s a settlement layer for Ripple’s broader network.”
Market Distribution and Growth Strategy
Data from RWA.xyz shows that Ethereum-based RLUSD represents about 80% of total circulation, while the XRP Ledger version accounts for the remaining 20%, reflecting Ripple’s multi-chain expansion strategy.
The milestone coincides with Ripple’s recent expansion of its over-the-counter (OTC) operations, adding spot prime brokerage services for U.S. institutions. This follows Ripple’s $1.25 billion acquisition of prime broker Hidden Road, finalized in October — a move aimed at strengthening Ripple’s footprint in institutional liquidity and settlement services.
Ripple’s RLUSD growth reinforces a broader trend — stablecoins are no longer just liquidity tools for traders; they’re becoming critical infrastructure for global payment networks and tokenized finance.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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