Ripple RLUSD Stablecoin Reaches $1 Billion Market Cap in First Year

TLDR

• Ripple’s RLUSD stablecoin crossed $1 billion market cap in November 2025, less than a year after launching in December 2024
• RLUSD ranks as the 10th largest US dollar-backed stablecoin, far behind Tether’s $183 billion and Circle’s $76 billion
• The stablecoin shows 1,278% year-to-date growth with 80% issued on Ethereum and 20% on XRP Ledger
• Ripple processed nearly $100 billion in payments volume to date, with RLUSD serving as the primary stablecoin for payment flows
• Company acquired four firms in 2025 including Hidden Road for $1.25 billion and Rail for $200 million to expand services

Ripple’s RLUSD stablecoin crossed the $1 billion market capitalization threshold on November 4, 2025. The milestone came less than a year after the token’s official launch in December 2024.

The US dollar-pegged stablecoin reached $900 million on October 24 before breaking through $1 billion just days later. According to CoinGecko data, RLUSD now ranks as the 10th largest US dollar-backed stablecoin by market cap.

Standard Custody & Trust Company, Ripple’s New York state-regulated subsidiary, issues the token. RLUSD is backed by dollar reserves and short-term US Treasuries.

The stablecoin recorded 1,278% year-to-date growth in market capitalization. Daily trading volumes reached $174 million at the time of reporting.

Supply Distribution Across Two Networks

Data from RWA.xyz shows Ethereum-issued RLUSD holds 80% of the total supply at $819 million. XRP Ledger-based RLUSD accounts for the remaining 20% at $203 million.

The stablecoin trails far behind market leaders Tether’s USDT at $183 billion and Circle’s USDC at $76 billion. Despite the gap, RLUSD’s trading volumes match those of PayPal USD and Dai, ranked seventh and fifth respectively.

Ripple initially marketed RLUSD as an enterprise-focused product. The token gained traction among retail users through integrations with platforms like Transak and self-custodial wallets such as Xaman.

Monica Long, Ripple’s president, told CoinDesk that demand for the company’s payment services has been rising. Ripple processed nearly $100 billion in payments volume to date.

RLUSD serves as the primary stablecoin for these payment flows. Long stated the company doubled its customer base throughout the year and now holds over 75 global licenses.

Company Expands Through Strategic Acquisitions

Ripple completed four acquisitions in 2025 to expand its digital asset offerings. The company purchased prime broker Hidden Road for $1.25 billion in October, now operating as Ripple Prime.

The firm bought stablecoin payments company Rail for $200 million. Ripple also acquired treasury technology provider GTreasury and wallet infrastructure startup Palisade.

Long explained the acquisition strategy focuses on targets that accelerate existing offerings or help expand into new business verticals. She confirmed Ripple plans to continue pursuing acquisition opportunities.

On November 4, Ripple announced the expansion of its over-the-counter services to include digital asset spot prime brokerage for US markets. The OTC expansion followed the completion of the Hidden Road acquisition.

Ripple stated on X that RLUSD and XRP will drive faster and compliant settlement worldwide through partnerships with Ripple Prime, GTreasury, and Rail.

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