Ripple’s Dollar-Backed Stablecoin Hits Half-Billion Market Cap
Ripple’s stablecoin RLUSD has surpassed $500 million in market capitalisation, marking a significant achievement just seven months after its launch. The dollar-backed token has seen steady adoption since its debut in December 2024, positioning Ripple more prominently within the competitive stablecoin arena.
The surge in demand was confirmed late on July 8, as RLUSD’s circulating supply climbed past 500 million tokens. According to CoinMarketCap data, the token now ranks 108th among all cryptocurrencies by market value, with 501 million RLUSD in active circulation.
RLUSD was introduced as a fully backed digital dollar, supported by cash, short-term U.S. Treasuries, and equivalents held in dedicated custodial accounts. Ripple has also committed to monthly audits by independent firms to ensure transparency and accountability—a key factor driving its appeal.
Momentum around RLUSD has accelerated in recent months, following its integration into Ripple Payments for enterprise settlements and a strategic partnership with OpenPayd, a fintech firm offering banking-as-a-service solutions.
Since July 1 alone, over 16 million RLUSD tokens have been issued, contributing to the climb past the half-billion-dollar mark.
Although RLUSD’s market share remains modest compared to industry leaders like USDT and USDC, analysts note that its compliance-first approach could appeal to institutions and regulators. Its future trajectory may hinge on upcoming U.S. stablecoin regulations currently under review by Congress, as well as increased listings on major exchanges.
