Ripple-Backed Stablecoin RLUSD Hits $2B Market Cap
RLUSD, the corporate stablecoin backed by Ripple, has reached a market capitalization of over $2 billion, according to CoinMarketCap data. The asset's circulating supply stood at 1.55 billion tokens, and analysts note that it is nearing its targeted supply forecast for the close of the current cycle.
The expansion of RLUSD's circulating supply comes in response to Ripple's technology being directly integrated into traditional banking infrastructure. In February, Deutsche Bank onboarded Ripple's solutions for institutional cross-border payment settlements, while Société Générale expanded support for its MiCA-regulated euro stablecoin to the XRP Ledger network.
The growth of RLUSD is seen as a challenge to PayPal USD (PYUSD) within the enterprise sector. PYUSD's market capitalization grew from $1.28 billion in September to $3.8 billion after expanding across networks like Solana and Arbitrum. Ripple has allocated nearly $3 billion to corporate acquisitions to expand its operational infrastructure, with a focus on strictly compliant custody and settlement.