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Ripple USD (RLUSD) stablecoin crossed $1 billion in total market capitalization, the largest for any stablecoin on the XRP Ledger.
Ripple USD (RLUSD) is minted on both Ethereum and XRP Ledger, with both networks accounting for its total supply, which is now 1.02 billion, according to CoinMarketCap data.
Ripple tweeted about this milestone recently, highlighting that RLUSD surpassed the $1 billion mark in less than a year since its launch. RLUSD stablecoin saw its global debut in December 2024.
Reacting to the milestone, Jack McDonald, SVP of stablecoins at Ripple, tweeted being proud of the stablecoins team at Ripple as the stablecoin RLUSD exceeds $1 billion in market capitalization.
This tweet was noticed by the President Ripple Monica Longwho also praised the efforts of the stablecoin team at Ripple while sharing the excitement at the $1 billion milestone: “The RLUSD team puts the pedal to the metal every day. Congrats JackMcDonald and the team on this achievement.”
Ripple says this is just the beginning
In his tweet, Ripple he suggested that the latest $1 billion milestone could be just the beginning, adding that “with Ripple Prime, GTreasury, and Rail now joining the effort, RLUSD and XRP are leading a faster, more efficient, and more comprehensive settlement in the world.”
Ripple has completed its acquisition of Hidden Road – now Ripple Prime – which will significantly increase the utility and reach of Ripple’s stablecoin, RLUSD. The Ripple USD stablecoin is already used as collateral for a number of primary brokerage products, with some derivative clients holding their balances in RLUSD.
In a major milestone, Ripple Prime has taken over in the US with the launch of digital asset prime brokerage capabilities – allowing customers to execute OTC spot transactions in digital assets and stablecoins, including XRP and RLUSD.
In late October, RLUSD secured listing on Bitpanda, Europe’s leading retail broker for buying and selling cryptocurrencies, with more exchange listings planned in advance.
