Ripple's Dollar Token Surpasses $2.4 Billion Market Cap

Ripple has made significant strides in its dollar token, RLUSD, which has surpassed $2.4 billion in market cap less than two years after launch.

This milestone marks a record high for the RLUSD supply, with over half of this amount sitting on the native XRP Ledger.

Ripple's strategy involves keeping XRP as the ledger and using RLUSD as the dollar leg, allowing institutions to use a regulated dollar peg without the unit of account fluctuating between trade and settlement.

The company aims to tap into the vast off-chain market for tokenized funds, payment flows, and corporate treasury, which totals in trillions of dollars. Ripple's acquisition of $1B GTreasury has given it access to corporate treasurers moving over $13 trillion a year.