Ripple USD, a stablecoin issued by the XRP coin Issuer Ripple, has been first sold as an “enterprise-focus” Stablecoin but has since obtained well-known traction among retail users.
Ripple officially introduced RIPPLE USD (RLUSD) Stablecoin In late 2024, with CEO Brad Garlinghouse Its institutional focus of its focusSetting RLUSD apart from competitors, which are primarily dedicated to retail use.
However, with increasing RLUSD adoption Self-customial wallets Like Xaman and Integration with platforms such as transakRLUSD appears to be expanding beyond business use.
“While RLUSD may have launched a business -oriented narrative likely due to XRPL strengths such as speed, cost and end efficiency, we see real traction in retail,” Xaman Chief Operating Officer Robert Kiuru told Cointelegraph.
Controversy to RLUSD’s Business Focus
Preliminary reports of RLUSD appeared earlier in its official announcement in December 2024, along with the Ripple CEO Garlinghouse Calling This is the “gold standard for enterprise-grade stablecoins” as early as October.
Ripple Chief Technology Officer David Schwartz also suggested that RLUSD “probably only available directly to institutions,” the debate of the debate on its potential intended exclusively for businesses.
When Ripple is officially announced RLUSD on December 16, 2024, the statement did not mention cases of retail usage, but reflected the preliminary presence on major platforms such as Utig, Bass, Moonpay and others.
RLUSD is a direct competitor to the USDC of the Circle
“RLUSD is really designed using the business grade utility,” Transak’s marketing head Harshit Gangwar told cointelegraph last week.
“However, the infrastructure of release and redemption supports both institutional and retail access,” he said.
HUMA Finance co-founder Erbil Karaman said RLUSD is now operating like “any general stablecoin goal,” and directly competing with rivals such as Circle’s USDC (USDC) In all segments of the market:
“This evolution emphasizes a simple fact: what is important is not to issue a stablecoin or what it sells first; it really becomes the benefit of it, and it will be clear after the launch.”
Most RLUSD is issued to EVM Sidechain, but XRPL holders prefer
Responding Using RLUSD, Xaman’s kiuru has highlights a gap between the RLUSD value released on the EVM Sidechain and the number of users is preferred XRP Ledger (XRPL).
According to In data from RWA.xyz, RLUSD accounts released by the EVM sidechain are for 88% of the current $ 557,7 million market cap, with under 12% coming from XRPL.
Related: XRP Dump: Ripple co-founder under fire for moving $ 175m XRP near high
However, most RLUSD holders – about 91% of the total 34,160 users – are in XRPL, left only around 9% on the EVM sidechain, Kiuru told Cointelegraph.
“I think they are still promoting it as a business, and that is due to the nature of the XRPL that has been positioned as a business chain since it started and its speed,” Kiuru said, added:
“If retail uses it too, that’s a big win. I don’t think I’m positioning XRPL and RLUSD is moving to business.”
Cointelegraph handed Ripple to the comment about RLUSD’s increasing retail but did not receive a response by publishing.
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