XRP is on track to be integrated into USDe, a stablecoin valued at up to 11.8 billion USD issued by Ethena Labs. The company's risk management council recently confirmed that XRP has passed all necessary thresholds according to the recently launched Qualified Asset System, placing XRP on par with BNB and HYPE, becoming a top candidate for integration.

The massive liquidity of XRP, with a market capitalization of over 181 billion USD and daily trading volume exceeding 10 billion USD, indicates that this currency is ready to take on a new role in the USDe ecosystem.

Ethena's Qualified Asset System

Ethena Labs, the company behind the USDe stablecoin, has recently introduced the Qualified Asset System as an official system to broaden the collateral asset options for USDe. According to the announcement, this system is based on specific thresholds that assets must meet before being approved.

These thresholds include maintaining an average open contract value above 1 billion USD for two weeks, daily trading volume above 100 million USD, and perpetual futures volume over 100 million USD per day. Liquidity requirements are also included, such as depth over 500,000 USD for the spot order book and depth over 10 million USD for average perpetual futures over two weeks.

XRP has met all these requirements, meaning it is strong enough in risk to be considered part of the USDe perpetual collateral asset system.

Over the years, XRP has maintained its position as one of the most liquid digital assets in the market. The market capitalization of XRP, currently at 181.944 billion USD at the time of writing, has seen strong growth over the past year. This has helped the currency rise in the market capitalization rankings and is now only behind Bitcoin and Ethereum.

XRP/USD is currently trading at 3.02 USD. Chart: TradingView

In addition to impressive numbers, the massive order book and global trading presence on exchanges in the US, Europe, and Asia allow this currency to handle large transactions without disrupting price stability. This level of liquidity and depth makes XRP an ideal candidate for integration into USDe, which has generated hundreds of millions of USD each week. For example, data shows that the amount of USDe issued has exceeded 670 million USD in the past week.

What Does This Mean for XRP?

According to Ethena, XRP, along with HYPE, has just met all thresholds and will soon be put into use. Only BNB has been approved as the first qualified asset for USDE's perpetual futures contract.

If Ethena officially puts XRP into operation, this will be an important expansion for the utility of XRP. This may not be the update that XRP users are hoping for, but this progress could open a new chapter in the utility and applicability of this cryptocurrency.

At the same time, Ripple's RLUSD, pegged to the US dollar, has also achieved some success in the stablecoin market. To date, RLUSD has surpassed a market capitalization of approximately 680 million USD in its first seven months and continues to grow. Furthermore, Ripple is expanding the global presence of RLUSD by partnering with SBI VC Trade to bring this product to the Japanese market in early 2026.

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