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

Ripple's RLUSD stablecoin has reached a market capitalization of $2.035 billion, according to CoinGecko data.

This achievement marks RLUSD as one of the fastest-growing regulated stablecoins and brings it within striking distance of PayPal USD (PYUSD), which currently holds a market cap of roughly $2.87 billion.

Notably, RLUSD's supply is approaching $1 billion on the XRP Ledger, where multiple issuances from the RLUSD Treasury have been reported over the past day.