Ripple stablecoin 'RLUSD' market cap surpasses 1 billion dollars

The stablecoin 'Ripple USD (RLUSD)' issued by Ripple surpassed a market capitalization of 1 billion dollars less than a year after its launch.

According to CoinDesk on the 5th (local time), RLUSD exceeded a market capitalization of 1 billion dollars just 11 months after its December launch last year. According to CoinGecko, RLUSD currently ranks 10th in market capitalization among dollar-pegged stablecoins, with supply amounting to 819 million dollars on the Ethereum network and 203 million dollars on the XRP Ledger (XRPL).

Ripple integrated RLUSD into its payment and liquidity infrastructure, designing it as a stable payment instrument fully collateralized by dollar reserves and short-term U.S. Treasuries. Its market share is smaller compared to Tether (USDT · 183 billion dollars) or Circle (USDC · 76 billion dollars), but it quickly established itself as an institutional-focused payment solution from the early stages of its launch.

Ripple President Monica Long (Monica Long) said in an interview, "RLUSD is the core stablecoin of the Ripple payment network, and the cumulative payment volume to date reaches about 100 billion dollars," adding, "Adoption is growing rapidly not only among institutions but also among individual users." Long added, "Our number of customers has doubled this year, and we currently hold more than 75 financial licenses worldwide."

Additionally, Ripple has been expanding its crypto asset infrastructure this year through an aggressive acquisition strategy. After acquiring crypto prime broker Hidden Road (Hidden Road · now Ripple Prime) for 1.25 billion dollars, it acquired stablecoin payments company Rail for 200 million dollars. It has also brought financial technology firm GTreasury and wallet infrastructure startup Palisade into the fold.

She said, "This year has been a major turning point not only for organic growth but also for inorganic growth," and added, "Through these acquisitions, we will expand into an integrated service covering stablecoin payments, prime brokerage, and wallet technology." She went on, "We maintain sufficient liquidity and a healthy financial structure, and we plan to actively consider acquisitions whenever opportunities arise."