Over 10 million units of the RLUSD stablecoin have been mined and reached a significant milestone.
The digital stablecoin Ripple USD (RLUSD) is making waves in the cryptocurrency world, recently surpassing a market capitalization of $600 million. This significant growth, a 95% increase from around $309 million in May, has propelled RLUSD to the 8th spot among stablecoins and the 104th overall crypto asset by market cap [1].
This rapid ascent can be attributed to increased institutional adoption, regulatory transparency, and strong backing by U.S. dollar deposits and government bonds, making RLUSD a trusted choice in the DeFi and payments space [1][3].
However, breaking into the top 5 stablecoins by the end of 2025 presents a challenge. The current top stablecoins, such as USDT, USDC, BUSD, DAI, etc., have market caps in the tens of billions, far larger than RLUSD's current $600M [2]. While RLUSD demonstrates strong growth momentum and institutional support, it would require a dramatic increase—likely a multiple of its current market cap—to surpass these established giants [1][3].
Recent developments include the announcement by Bank of New York Mellon Corporation, the oldest American bank, that it would act as a custodian for RLUSD [4]. Additionally, Doppler Finance introduced a Ripple USD (RLUSD) vault for depositing and earning tokens [5].
RLUSD has also been named the most trusted stablecoin by Bluechip, an independent stablecoin rating agency [6]. However, it trails behind Stable Labs' USDX and Tether Gold's XAUT in the stablecoin market [7].
As of current, RLUSD is not among the top 15 biggest stablecoins according to CoinGecko data. But with 10 million RLUSD tokens minted on the Ethereum blockchain on Tuesday, and its continued growth, it remains a coin to watch in the coming months [8].
Ripple, the company behind RLUSD, has publicly stated their expectation for RLUSD to enter the top 5 stablecoins by market capitalization [9]. While this ambitious goal would require billions in additional market cap, the steady growth and institutional support RLUSD has garnered so far suggest it could be a realistic possibility in the near future.
References: 1. CoinGecko - Ripple USD (RLUSD) 2. CoinMarketCap - Ripple USD (RLUSD) 3. CoinDesk - Ripple's USD Coin Hits $600M in Market Cap 4. Bank of New York Mellon to Custody Ripple's USD Coin 5. Doppler Finance Introduces Ripple USD (RLUSD) Vault 6. Bluechip - Ripple USD (RLUSD) 7. CoinMarketCap - Stablecoins Rankings 8. CoinGecko - Ripple USD (RLUSD) News 9. Ripple Expects USD Coin to Enter Top 5 Stablecoins by Market Cap
- The digital stablecoin Ripple USD (RLUSD) has surpassed a market capitalization of $600 million, positioning it as the 8th largest stablecoin and the 104th overall crypto asset.
- The growth of RLUSD can be attributed to increased institutional adoption, regulatory transparency, and strong backing by U.S. dollar deposits and government bonds, making it a trusted choice in the DeFi and payments space.
- Breaking into the top 5 stablecoins by the end of 2025 is a challenge, as the current top stablecoins have market caps in the tens of billions, significantly larger than RLUSD's current $600M.
- Recent developments include Bank of New York Mellon Corporation acting as a custodian for RLUSD, Doppler Finance introducing a Ripple USD (RLUSD) vault for depositing and earning tokens, and RLUSD being named the most trusted stablecoin by Bluechip.
- Ripple, the company behind RLUSD, has publicly stated their expectation for RLUSD to enter the top 5 stablecoins by market capitalization, a goal that would require billions in additional market cap.
- With 10 million RLUSD tokens minted on the Ethereum blockchain and continued growth, RLUSD remains a coin to watch in the coming months, as it currently is not among the top 15 biggest stablecoins according to CoinGecko data.
