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Ripple USD stablecoin, RLUSD, is gaining significant traction in the market, with the recently released February attestation report highlighting growth.
In a tweet, Jack McDonald, SVP of Stablecoins at Ripple, stated that the February monthly independent attestation for RLUSD is live, going further ahead to share highlights of the recently released report.
RLUSD has seen a market cap surge that has reached over $170 million, outpacing internal projections, according to the Ripple executive. RLUSD has also scored new exchange listings with the stablecoin now available on new platforms, including LMAX, with more listings expected soon.
RLUSD made its debut in December 2024 on multiple exchanges and crypto platforms, including Uphold, MoonPay, Archax and CoinMENA, with listings also on Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve and Zero Hash.
Alex DovbnyaRipple stablecoin's use cases have also expanded, with RLUSD being integrated into DeFi liquidity pools and used by NGOs to streamline charitable giving.
The last 24 hours saw a return in minting in RLUSD with 17 million tokens minted at the RLUSD Treasury.
RLUSD prediction
In his tweet, McDonald reiterated a bold prediction regarding RLUSD, aligning with an earlier statement by Ripple’s CEO.
McDonald shared a general expectation by the Ripple team that RLUSD would become one of the top five stablecoins by the end of the year, reiterating the prediction made earlier this month by Ripple CEO Brad Garlinghouse.
Tomiwabold OlajideIn a Bloomberg interview, shortly after the SEC abandoned its appeal in the Ripple case, Garlinghouse said he expects RLUSD to be one of the top five stablecoins by the end of the year and that the overall stablecoin market would grow dramatically.
Vladislav Sopov
Dan Burgin