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Ripple USD (RLUSD) stablecoin has crossed $1 billion in total market capitalization, the biggest for any stablecoin on 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 has surpassed $1 billion mark within less than a year of 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 RLUSD stablecoin surpasses $1 billion in market capitalization.
This tweet was noticed by Ripple President Monica Long, who also commended the efforts of the stablecoin team at Ripple while sharing excitement at the $1 billion milestone: "The RLUSD team puts the pedal to the metal everyday.congrats JackMcDonald and team on this achievement."
Ripple says this is just the beginning
In its tweet, Ripple hinted that the recent $1 billion milestone might just be the start, adding that "with Ripple Prime, GTreasury, and Rail now joining the effort, RLUSD and XRP will drive faster, efficient and compliant settlement worldwide."
Ripple completed its acquisition of Hidden Road — now Ripple Prime — which will significantly enhance the utility and reach of Ripple’s stablecoin, RLUSD. The Ripple USD stablecoin is already being used as collateral for a number of prime brokerage products, with certain derivatives customers holding their balances in RLUSD.
In a major milestone, Ripple Prime has taken off in the U.S. with the launch of digital asset spot prime brokerage capabilities — allowing clients to execute OTC spot transactions across digital assets and stablecoins, including XRP and RLUSD.
At October's close, RLUSD secured listing on Bitpanda, Europe's leading retail broker for buying and selling cryptocurrencies, with more exchange listings expected ahead.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team