Ripple’s RLUSD Stablecoin Supply Surges 47% in June

Ripple’s RLUSD stablecoin has emerged as a significant player in the market, with its supply surging by 47% in June. This growth rate is the fastest among major stablecoins for the month, with the total circulation now standing at $455 million, up from just over $300 million the previous week. The bulk of RLUSD’s supply is hosted on Ethereum, which accounts for roughly $390 million of the total. This represents a nearly fourfold increase since January, highlighting Ethereum’s role as a preferred platform for DeFi integrations, exchange listings, and app-level adoption.

Ripple’s strategic shift towards interoperability is evident in its support for RLUSD across multiple chains. While the XRP Ledger still supports around $65 million of RLUSD, Ethereum’s deep liquidity and familiarity are attracting most users. This approach allows RLUSD to leverage the strengths of different blockchain platforms, enhancing its versatility and appeal.

Legal and regulatory progress has also been a key driver of RLUSD’s growth. The recently passed GENIUS Act in the U.S. has provided clearer rules for dollar-backed stablecoins, offering Ripple more legal clarity than many of its peers. Ripple’s decision to drop its cross-appeal against the SEC further signals a move toward a final resolution, easing legal pressure and boosting RLUSD’s market credibility. Additionally, RLUSD has received approval from the Dubai Financial Services Authority, allowing it to operate within the Dubai International Financial Centre, a growing financial hub for the Middle East, Africa, and South Asia.

RLUSD’s expansion indicates a growing demand for stablecoins that offer compliance, flexibility, and global reach. While USDT and USDC continue to dominate the market, RLUSD’s rapid growth is a result of deliberate steps, including legal alignment, cross-chain support, and global licensing. This strategic approach has positioned RLUSD as a new contender in the stablecoin wars, demonstrating that trust and compliance are crucial factors in the market.

The surge in RLUSD’s value reflects the increasing adoption and trust in Ripple’s technology, as well as the growing demand for stablecoins in the cryptocurrency market. Stablecoins provide a safe haven for investors during times of market volatility and serve as a medium of exchange within the cryptocurrency ecosystem. Ripple’s efforts in expanding its ecosystem and promoting the use of its technology have contributed to the increased adoption of RLUSD and other Ripple-based products.

The rapid growth of RLUSD highlights the potential of stablecoins in the broader financial landscape. Stablecoins offer benefits such as faster and cheaper cross-border transactions, increased financial inclusion, and greater transparency. As the demand for stablecoins continues to rise, it is expected that more stablecoins will enter the market, providing investors with a wider range of options. However, the growth of stablecoins also raises regulatory challenges, underscoring the need for clear regulatory frameworks to ensure the stability and security of these digital assets.