Ripple's RLUSD Stablecoin Surges 47% in June, Driven by Ethereum Adoption and Legal Clarity

Ripple's RLUSD stablecoin experienced a significant surge in June, with its supply increasing by 47%, making it the fastest-growing major stablecoin for the month. The total circulation of RLUSD reached $455 million, up from approximately $300 million the previous week. This growth is largely attributed to the stablecoin's presence on the Ethereum network, which hosts nearly $390 million of the total supply. This represents a nearly fourfold increase since January, highlighting Ethereum's role in driving RLUSD's adoption.

The Ethereum network's deep liquidity and familiarity have made it the preferred platform for DeFi integrations, exchange listings, and app-level adoption. While Ripple's native XRP Ledger supports around $65 million of RLUSD, the majority of users are drawn to Ethereum. This strategic shift by Ripple to support RLUSD across multiple chains demonstrates a commitment to interoperability, rather than limiting the stablecoin to its own ecosystem.

Legal and regulatory progress has also played a crucial role in RLUSD's growth. In the U.S., the recently passed GENIUS Act has provided clearer rules for dollar-backed stablecoins, offering Ripple more legal clarity than many of its competitors. Ripple CEO Brad Garlinghouse confirmed that the company has dropped its cross-appeal against the SEC, indicating a move toward a final resolution. This easing of legal pressure has enhanced RLUSD's market credibility at a pivotal moment.

Internationally, RLUSD has received approval from the Dubai Financial Services Authority (DFSA), allowing it to operate within the Dubai International Financial Centre (DIFC). This financial hub is a growing center for the Middle East, Africa, and South Asia, further expanding RLUSD's global reach.

While USDT and USDC continue to dominate the stablecoin market, RLUSD's rapid expansion indicates a growing demand for stablecoins that offer compliance, flexibility, and global reach. Ripple's strategic steps, including legal alignment, cross-chain support, and global licensing, have positioned RLUSD as a formidable contender in the stablecoin landscape. The stablecoin's ability to scale quickly in a market where trust is paramount underscores its potential for continued growth and adoption.