Since its launch in December 2024, Ripple USD (RLUSD) has seen huge adoption, almost reaching $250million in market capitalisation. As a result, the USD-denominated stablecoin is now being integrated into Ripple‘s flagship payments solution, Ripple Payments, as the digital asset infrastructure provider looks to drive RLUSD’s utility and demand.
Ripple has enabled RLUSD cross-border payments in its flagship payments solution, which processes billions of dollars in volume. Unlike many stablecoins, which are designed for retail use, RLUSD has built-in global enterprise utility to improve the speed and efficiency of cross-border payments. This offering has seen the stablecoin trade $10billion since launch, demonstrating demand for an enterprise-grade, compliance-first USD-backed stablecoin.
Ripple is combining years of expertise in payments, an extensive payout network with near-global coverage, and a stablecoin built with compliance at its core, to provide fast, low-cost and scalable cross-border payments. RLUSD is being used in the payment flow with select customers, including cross-border payment providers BKK Forex and iSend to improve their cross-border treasury operations. Over time, Ripple will also expand the use of RLUSD for our payments customers.
Ripple is continuing to work with partners around the world to make RLUSD globally available. In addition to partners and exchanges LMAX Digital, Zero Hash, Bitstamp and Bullish, RLUSD is also available on crypto exchange Kraken, further extending access and availability to retail users.
Utilising RLUSD
RLUSD is ideal for a number of financial use cases, allowing enterprises to:
- Facilitate instant settlement of cross-border payments.
- Access liquidity for remittance and treasury operations.
- Seamlessly integrate with decentralised finance (DeFi) protocols.
- Reliably bridge between traditional fiat currencies and the crypto ecosystem, ensuring a seamless and efficient transition when entering (on-ramping) or exiting (off-ramping) the crypto space.
- Provide collateralisation for trading tokenised real-world assets such as commodities, securities, and
- treasuries onchain.
“We’re seeing the market cap continue to grow, outpacing our internal projections. In short order, RLUSD is being used for a number of use cases, including use as collateral in both crypto and tradfi trading markets. New exchanges are listing RLUSD on an ongoing basis and we’re actively working with NGOs who see the opportunity to streamline giving through stablecoins,” said Jack McDonald, SVP of stablecoins at Ripple.
“We’re additionally excited to enable RLUSD in Ripple Payments, extending the breadth of stablecoins available in our cross-border payments solution.”
