Ripple’s StableCoin, RLUSD, surpassed $1 billion in market capitalization less than a year after launching in December 2024.
The milestone makes rlusd the 10th largest US dollar backed stableCoin by market cap, according to data from Coingecko. Issued by XRP Creator Ripple, RLUSD is backed by US dollar reserves and short-term treasuries, and is designed to integrate with Ripple’s broader payments and liquidity infrastructure.
While RLUSD’s market cap remains small compared to the sector’s two dominant players – Tether’s USDT at $183 billion and Circle’s USDC at $76 billion – its signal increase is strong early demand. The RLUSD supply is currently split between $819 million in tokens on the Ethereum blockchain and $203 million on the XRP Ledger Network, RWA.XYZ DATA out.
Most StableCoins took years to reach the billion dollar mark, and RLUSD’s rapid ascent suggests that Ripple was able to leverage its existing customer base and global financial network to accelerate adoption. The company sold the token primarily to institutional clients looking for stable on-chain settlement options, but notable traction among retail users added to its rapid growth.
Monica Long, president of Ripple, told Coindesk in an interview that demand for the company’s payment services is increasing. Ripple has processed nearly $100 billion in payment volume to date, and RLUSD is the “primary stablecoin” used for payment flows, he added.
“We doubled the number of customers throughout the year,” Long said, adding that Ripple now holds more than 75 global licenses.
Ripple has been on an acquisition spree this year, buying four companies to complement the firm’s digital assets for institutions and businesses. It got Prime Broker Hidden Road, now Ripple Prime. palisade.
“It’s been a really big year for us, both organic growth-wise and inorganic growth,” Long told Coindesk. “We’re taking everything in (to) bring all the pieces together.”
Ripple’s acquisition strategy, explained by Long, is to find targets that either accelerate existing offerings, such as Palisade and Rail adding to StableCoin’s payment capabilities, or help expand the business into new verticals such as Prime Brokerage of the hidden road.
“We continue to be opportunistic (with acquisitions). We continue to have a really healthy, large balance sheet,” Long said.
