PANews, July 9 news, according to The Block, Ripple's US dollar-pegged stablecoin RLUSD has exceeded $500 million in circulation within seven months since its launch in December 2024. RLUSD is issued on the XRP Ledger and Ethereum, and is currently among the top 20 US dollar stablecoins globally, with a daily trading volume of approximately $26 million. This currency is backed by cash, cash equivalents, and short-term US Treasury securities, and is pegged 1:1 to the US dollar. Currently, Ripple is seeking a national trust bank license in the United States to directly hold customer deposits and issue RLUSD. Overall, the total market capitalization of the US dollar stablecoin market is approaching $250 billion, accounting for over 95% of the total stablecoin market.
