Ripple USD Market Cap Hits $500 Million After Transak Integration

Ripple’s US dollar-pegged stablecoin, Ripple USD (RLUSD), has received a significant boost by integrating with Transak, a major cryptocurrency payments platform. This integration allows Transak’s 8.3 million users to purchase RLUSD using multiple fiat currencies, enhancing the stablecoin’s accessibility and usability on a global scale.

Transak’s head of marketing, Harshit Gangwar, highlighted the collaborative effort between Transak and Ripple, stating that the integration aims to benefit from wider distribution across Transak’s global network, which spans more than 450 wallets, decentralized applications (DApps), and exchanges. This move comes as RLUSD reaches a $500 million market capitalization for the first time, marking a significant milestone for Ripple’s stablecoin initiative.

RLUSD is now available across all 64 countries supported by Transak for on-ramping, including key markets such as the United States, the United Kingdom, and the European Union. The integration process, which took about three months, ensured regulatory alignment across these markets. Transak supports a wide range of payment methods for RLUSD, including Apple Pay, Google Pay, Visa, Mastercard, SEPA in the EU, and wire transfers in the US. However, fiat off-ramp support, which would enable holders to sell RLUSD for fiat money, is planned for later in 2025 as more use cases emerge, particularly around remittances and cross-border payments.

In addition to supporting at least 450 crypto-native services like MetaMask, Trust Wallet, Ledger, Coinbase Wallet, Uniswap, and Phantom, Transak will enable a wide range of payment methods for RLUSD. This integration highlights RLUSD’s growing retail use cases, despite originally being purpose-built for enterprise utility. The news of the integration came on the same day Ripple officially announced its selection of BNY Mellon as the primary custodian of RLUSD reserves. BNY Mellon’s global head of asset servicing, Emily Portney, expressed pride in supporting the growth of digital assets by providing a differentiated platform designed to meet the evolving needs of institutions in the digital assets ecosystem.

RLUSD’s growing adoption comes against a background of the stablecoin reaching a $500 million market cap for the first time since it debuted trading less than seven months ago. This milestone indicates growing interest and confidence in RLUSD, positioning it as a competitive player in the stablecoin market. The launch on Transak is a strategic move that aligns with Ripple's goal of making digital assets more accessible and user-friendly, potentially driving further growth and adoption in the coming months.