RLUSD Surpasses $2.4 Billion in Market Value Amid Corporate Treasury Demand
Ripple's stablecoin RLUSD has surpassed $2.4 billion in market value after experiencing a 50% monthly growth, according to recent data.
This rapid expansion is largely driven by corporate treasury demand for stablecoins like RLUSD, which can be used for payment flows, liquidity management, and settlement without directly increasing the demand for Ripple's native token XRP.
The company reported $2.409 billion in circulation as of September 24, with reserves standing at $2.5315 billion, leaving roughly $122.5 million above circulating supply.
Notably, RLUSD has also spread across various networks, including the Ethereum (ETH) and XRP Ledger platforms, through Wormhole infrastructure. This growth does not create a one-for-one increase in XRP demand as companies can hold and transfer RLUSD without buying XRP.