Ripple, a leading blockchain-based infrastructure for financial services, has announced the integration of the RLUSD stablecoin with its flagship payments solution, Ripple Payments. This is set to further drive the enterprise utility and demand for the dollar-denominated stablecoin. RLUSD is an enterprise-grade USD-backed cryptocurrency issued on the Ripple blockchain that is built with utility, trust, and compliance at its core. With its integration on the world’s fourth-largest blockchain payment protocol, RLUSD has achieved the $250 million market cap milestone, denoting unprecedented adoption since its launch in December 2024.
Enhancing Global Payments with the Integration of RLUSD on Ripple Payments
On April 3, Ripple integrated RLUSD into Ripple Payments to enable cross-border payments using the stablecoin on the platform that processes billions of dollars in transactions every year, which processes billions of dollars in volume. Unlike most stablecoins, to improve the speed and efficiency of cross-border payments, RLUSD has built-in global enterprise utility.
By combining years of expertise in payment solutions, Ripple has created an extensive payout network with near-global coverage and a trustworthy stablecoin built with compliance at its core that can provide fast, low-cost, and scalable cross-border payments. RLUSD is currently being used in the payment flow with select customers and global payment providers like BKK Forex and iSend to enhance their global payment operations. Over time, we can witness Ripple expand the use of RLUSD in more payment providers.
RLUSD’s Market Cap Hits $250 Million Milestone
RLUSD has experienced strong global adoption since its launch in December 2024, nearing $250 million in market capitalization and $10 billion in overall trading volume, demonstrating the growing market demand for a compliance-centered, high-end, USD-denominated stablecoin.
Top-tier partners from all over the world are still continuing their collaboration with Ripple to make RLUSD globally available.
In addition to partners and exchanges, including LMAX Digital, Zero Hash, Bitstamp, and Bullish, RLUSD is now available at Kraken, one of the most popular crypto exchanges in the world, further expanding its access and availability to retail users.
According to Jack McDonald, the SVP of stablecoins at Ripple, Ripple’s market cap is continuing to grow beyond their internal projections, and RLUSD is being used as collateral across both crypto tradefi markets.
He also added that new exchanges are listing RLUSD on an ongoing basis, and the team is working with NGOs to streamline aid distribution through stablecoins.
He also expressed the team’s excitement as RLUSD is being enabled in Ripple Payments, expanding its reach for cross-border transactions.
Use Cases of RLUSD
RLUSD is ideal for several use cases, such as:
- Facilitate fast transactions of global payments.
- Access liquidity for profits and financial transactions.
- Effortless integration with decentralized finance (DeFi) protocols.
- Acts as a bridge between traditional fiat currencies and the crypto ecosystem, ensuring seamless transition when on-ramping and off-ramping.
- Used as collateral for trading tokenized real-world assets like commodities, securities, and treasuries on the Ripple blockchain.
By combining innovative functionality with the regulatory rigor and credibility of a New York-issued limited trust company, NYDFS, RLUSD is setting new standards for stablecoins, further highlighting Ripple’s leadership in fostering trust and transparency in the crypto space.