Ripple’s Stablecoin RLUSD Crosses $1B In Market Cap

Ripple USD, a stablecoin created by XRP issuer Ripple, has surpassed the market capitalization of $1 billion, marking a significant milestone less than a year after its launch.

Officially launched in December 2024the Ripple USD (RLUSD) stablecoin achieved a remarkable growth of 1,278% year-to-date market capitalization.

The stablecoin first hit the $1 billion mark on Monday, just days after reaching $900 million on October 24. according to to CoinGecko data.

“With Ripple Prime, GTreasury, and Rail now joining the effort, RLUSD and XRP are driving the world’s fastest, most efficient, and most comprehensive settlement,” Ripple. he said in an X post on Monday, adding: “This is how we advance the future of finance.”

The 10th largest stablecoin of the US dollar

Although RLUSD lags far behind stablecoin giants like Tether’s USDt (USDT) with $183 billion and Circle’s USDC (USDC) with $75 billion market capitalization, Ripple’s stablecoin has emerged as a serious competitor among stablecoins pegged to US dollars.

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 Give (GIVE), which are ranked seventh and fifth, respectively.

Initially marketed as an “enterprise-focused” stablecoin, RLUSD has has gained notable traction among retail usersespecially through integrations with platforms such as Transak and increasing adoption across the board self-custodial portfolioslike Xaman.

Second according to data from RWA.xyz, Ethereum-issued RLUSD continues to dominate with a share of 80%, while XRP Ledger-based RLUSD grew to about 20%.

Related: Ripple seeks to buy $1 billion XRP tokens for new treasury: Report

RLUSD’s stop came amid Ripple’s announcement on Monday of an expansion of its over-the-counter (OTC) services to include Digital activity spot prime brokerage for the United States markets.

OTC expansion follows Ripple the acquisition of the first crypto-friendly broker Hidden Road as part of a $1.25 billion deal finished in October.