XRP News Today: Ripple's RLUSD Stablecoin Hits $500 Million Market Cap in 7 Months

Ripple’s stablecoin, RLUSD, has made a significant impact in the digital asset landscape, achieving a market capitalization of over $500 million just seven months after its launch. This rapid growth underscores the increasing trust and adoption of RLUSD, which is pegged 1:1 to the U.S. dollar and backed by a combination of cash, short-term U.S. government bonds, and other secure assets.

RLUSD’s journey began with a strong foundation, being designed to comply with the European Union’s regulatory framework for digital assets, known as Markets in Crypto-Assets (MiCA). During its initial six-month test phase, RLUSD processed over 33,000 transactions, with the majority of the coins ($52.9 million) available on Ethereum and the rest ($13.3 million) minted on the XRP Ledger (XRPL). Following approval by the New York State Department of Financial Services (NYDFS), RLUSD was officially launched in late December.

Initially available on platforms such as MoonPay, Uphold Inc., and CoinMena, RLUSD has since expanded its reach to more prominent exchanges like Kraken, Bitget, and Uniswap. By the end of the first quarter of 2025, RLUSD had amassed a market cap of over $244 million across both XRPL and Ethereum. Further milestones included recognition by the Dubai Financial Services Authority (DFSA) as a crypto token within the Dubai International Financial Center (DIFC), with the market cap reaching around $310 million at that time.

RLUSD’s latest achievements include becoming the first stablecoin supported by a Swiss global bank, AMINA, which offers trading and custody services. Additionally, Ripple announced its intention to seek a U.S. banking license, further solidifying its presence in the financial sector. The company has also chosen BNY Mellon to serve as the stablecoin’s custodian, ensuring the stability and security of RLUSD.

Ripple’s strategic moves extend beyond RLUSD. In April, the company acquired the brokerage firm Hidden Road in a $1.25 billion deal, making it the only crypto firm to own and operate a multi-asset broker. Hidden Road clears $3 trillion per year from over 300 institutional clients across markets, and RLUSD will be used as collateral for the prime products they offer. This acquisition marks one of the largest investments by Ripple and underscores its commitment to expanding its footprint in the financial industry.

Ripple’s ambitions do not stop there. The company is seeking a national trust-bank license from U.S. regulators, which, if approved by the Office of the Comptroller of Currency, would allow Ripple to hold customer deposits and issue RLUSD in accordance with U.S. banking laws. This move aligns with a more favorable regulatory environment in the U.S., where federal agencies have made it easier for banks to engage in crypto-related activities. The GENIUS Act, which aims to establish clear rules for stablecoins and blockchain companies, has garnered bipartisan support and is attracting more investors to the stablecoin market.

Ripple’s partnership with the Bank of New York Mellon to secure dollar reserves for RLUSD further solidifies its position in the market. This collaboration comes as RLUSD’s market cap hits $500 million, demonstrating Ripple’s commitment to ensuring the stability and security of its stablecoin. The company’s broader ecosystem has also grown more robust, with the XRP Ledger continuing to position itself as a key player in the cryptocurrency space. As more people and businesses adopt digital currencies, RLUSD is emerging as a strong and trusted choice in the rapidly growing stablecoin market.