XRP News Today: Ripple's RLUSD Stablecoin Surges 50% in June Amid Institutional Adoption

Ripple’s stablecoin, RLUSD, has seen a significant surge in its circulating supply, with data indicating an increase of nearly 50% in June. This growth reflects a broader trend of institutional adoption, as banks, remittance companies, and fintech platforms increasingly leverage RLUSD for its reliability and liquidity. The stablecoin's presence on Ethereum has quadrupled since the start of the year, now holding around $390 million, while the remainder, roughly $65 million, is held on the XRP Ledger, Ripple’s native blockchain.

Analysts attribute RLUSD’s momentum to favorable regulatory shifts and Ripple’s improved legal position. The recent passage of the GENIUS Act in the U.S. has provided a clear legal structure for issuing dollar-backed stablecoins, boosting market confidence and fostering growth. Additionally, Ripple’s long-standing legal battle with the U.S. SEC appears to be winding down, with CEO Brad Garlinghouse confirming the company is withdrawing its cross-appeal. This truce could open the door to broader institutional adoption.

Launched in December 2024, RLUSD is issued under a New York trust license and backed by cash and short-term U.S. Treasurys. It was built to meet global compliance standards, a strategic decision that is now paying off. This global push includes the Middle East, where RLUSD recently received approval from Dubai’s Financial Services Authority. This approval allows companies operating in the DIFC — a financial center with over 7,000 businesses — to use the stablecoin for payments, asset management, and more.

Ripple Labs has also announced a strategic shift in its payment strategy, moving away from XRP's original bridge model towards its new stablecoin, RLUSD. This transition aims to enhance the efficiency and speed of cross-border payments, aligning with Ripple's vision of redefining global crypto adoption. The integration of RLUSD into various financial networks, including Cardano's network and Lace wallet, further exemplifies Ripple's commitment to fostering synergy and interoperability within the digital asset space.

The accelerating adoption of RLUSD is a testament to its technical capabilities and the growing demand for stable digital currencies. As more institutions and individuals recognize the benefits of RLUSD, its role in the digital dollar space is set to expand, potentially reshaping the future of digital payments and financial transactions. With expanding reach and regulatory support, RLUSD looks poised to become a key player in the next wave of stablecoin adoption.