Ripple's RLUSD Stablecoin Surges in Market Capitalization
Ripple's USD stablecoin, #RLUSD , is making significant strides in the cryptocurrency market, recently surpassing $170 million in market capitalization, far exceeding initial projections.
Jack McDonald, Senior Vice President of Stablecoins at Ripple, shared this exciting news in a recent post on X, highlighting the strong momentum RLUSD has gained. The February attestation report showcased impressive growth metrics, indicating a rising demand and utility for the stablecoin.
Since its launch in December 2024, RLUSD has expanded its presence on major crypto platforms, including Uphold, MoonPay, and Bitstamp, and has recently been listed on LMAX, enhancing its accessibility. Ripple is also exploring additional exchange listings.
Beyond exchange growth, RLUSD is being integrated into decentralized finance (DeFi) ecosystems and is being utilized by NGOs for charitable donations, thanks to its efficiency and stability. The February report noted a significant increase in minting activity, with 17 million tokens minted in just 24 hours, reflecting heightened interest in the stablecoin.
Ripple's leadership remains optimistic about RLUSD's future, with McDonald reiterating CEO Brad Garlinghouse's prediction that it will rank among the top five stablecoins by the end of 2025. This optimism is bolstered by a favorable market sentiment and Ripple's strong relationships within the financial sector.
