Ripple President Breaks Silence on XRP Ledger Stablecoin Surge

TLDR

• Ripple USD stablecoin has crossed $1 billion in total market capitalization.
• RLUSD is now the largest stablecoin operating on XRP Ledger.
• The stablecoin achieved this milestone in less than one year after its December 2024 launch.
• Ripple President Monica Long praised the RLUSD team for their dedication and effort.
• RLUSD operates on both Ethereum and XRP Ledger with a combined supply of 1.02 billion tokens.

Ripple USD (RLUSD) stablecoin has surpassed $1 billion in total market capitalization. The achievement marks the largest milestone for any stablecoin on XRP Ledger (XRPL). Ripple President Monica Long praised the team behind this accomplishment.

RLUSD Crosses $1 Billion Market Cap

Ripple USD has a total supply of 1.02 billion tokens across both networks. The stablecoin operates on Ethereum and XRP Ledger simultaneously. CoinMarketCap data confirms the current supply figures.

The company achieved this milestone in under a year. RLUSD was launched globally in December 2024 and experienced rapid growth. Ripple announced the achievement through its official X account.

Jack McDonald serves as SVP of stablecoins at Ripple. He expressed pride in the team’s work on RLUSD. McDonald shared his thoughts on X after the milestone.

Monica Long, Ripple’s President, responded to McDonald’s tweet. She commended the stablecoin team for their dedication and effort. Long stated: “The RLUSD team puts the pedal to the metal everyday.”

XRP Ledger Stablecoin Gains New Partnerships

Ripple outlined future plans for RLUSD expansion in its announcement. The company mentioned three key partners joining the effort. Ripple Prime, GTreasury, and Rail will enhance RLUSD’s global reach.

The stablecoin will drive faster settlement processes worldwide. XRP Ledger and RLUSD together enable efficient transactions. Both assets provide compliant settlement solutions for users.

Ripple recently completed its acquisition of Hidden Road. The platform now operates as Ripple Prime. This acquisition enhances RLUSD’s utility and market presence.

Derivatives customers already hold balances in RLUSD tokens. Prime brokerage products use the stablecoin as collateral. The XRP Ledger benefits from this expanded functionality.

Ripple Prime launched digital asset spot prime brokerage in America. Clients can execute OTC spot transactions through the platform. The service supports XRP Ledger assets and other digital currencies.

Bitpanda listed RLUSD at the end of October 2024. The platform is Europe’s leading retail cryptocurrency broker. More exchange listings are expected in coming months.

The XRP Ledger ecosystem continues growing with RLUSD adoption. Trading pairs include both XRP and RLUSD on various platforms. The stablecoin serves multiple purposes across different markets.

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