RLUSD Surpasses $2 Billion Market Cap, Challenges PayPal's Stablecoin Lead

Ripple's US dollar-backed stablecoin RLUSD has reached a significant milestone in its short life, exceeding $2 billion in market capitalization. Launched in December 2024, RLUSD has proven to be one of the fastest-growing regulated stablecoins on the market.

The stablecoin is approaching $1 billion in supply on the XRP Ledger and has climbed to a market cap of $2.035 billion, according to CoinGecko data. This puts it within striking distance of PayPal USD's ($PYUSD) market cap of approximately $2.87 billion.

A notable trend in RLUSD's growth is its significant minting activity over the past day, with multiple issuances from the RLUSD Treasury reported. These mints bring fresh liquidity into the ecosystem and have helped propel RLUSD to this impressive milestone.