TLDR
- RLUSD stablecoin integrated into Ripple’s cross-border payments platform
- Market cap reached nearly $200-294 million with 87-118% monthly growth
- Monthly transfer volume increased to $720-860 million
- Now listed on Kraken, joining LMAX Digital, Bitstamp, and other exchanges
- Being used for treasury operations, collateral, and potential NGO aid distribution
Ripple has integrated its RLUSD stablecoin into its enterprise-grade cross-border payments platform, Ripple Payments. The move comes as the token shows strong growth metrics since its December 2024 launch.
RLUSD, which is backed by short-term U.S. government bonds, received regulatory approval from the New York Department of Financial Services in December. The stablecoin has since grown rapidly in adoption across both crypto and traditional finance markets.
According to data from various tracking platforms, RLUSD’s market cap ranges between $200-294 million, representing growth of 87-118% over the past month. The stablecoin’s monthly transfer volume has also reached between $720-860 million.
Cross-Border Payment Integration
The integration with Ripple Payments is being rolled out in phases. Select customers are already using the stablecoin for international treasury operations.
Cross-border payment providers BKK Forex and iSend are among the first businesses to implement RLUSD within the Ripple Payments ecosystem. These early adopters are using the stablecoin to improve their treasury operations.
Ripple plans to expand the token’s availability to more payment customers over time. This gradual rollout strategy allows Ripple to refine the integration before wider deployment.
The company has positioned RLUSD as designed for institutional flows rather than retail use. This distinguishes it from consumer-focused stablecoins in the market.
Jack McDonald, Ripple’s Senior Vice President of Stablecoins, noted that RLUSD’s growth is exceeding 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,” McDonald said in a statement.
Exchange Listings Expand Access
In a related development, popular cryptocurrency exchange Kraken has added RLUSD to its platform. This listing follows the token’s previous availability on LMAX Digital, Bitstamp, Bullish, and Zero Hash.
The Kraken addition broadens RLUSD’s market footprint. It enables both institutional and retail traders to access the asset through a trusted U.S. exchange.
Earlier this year, Ripple partnered with Chainlink to add RLUSD data feeds to the decentralized finance ecosystem. This move was designed to enhance the token’s utility for retail users.
The 24-hour trading volume for RLUSD has seen large increases, reaching nearly $100 million according to some reports. This represents an 85% surge from previous day’s figures.
Community sentiment metrics for the token are also strong. CoinMarketCap data shows a 96% positive sentiment rating for RLUSD.
McDonald also revealed that Ripple is exploring humanitarian applications for its stablecoin. The company is “actively working with NGOs who see the opportunity to streamline giving through stablecoins.”
The stablecoin market remains competitive. Tether’s USDT and Circle’s USDC continue to dominate the sector, with the latter recently filing for an IPO.
Ripple entered this market as part of its broader strategy to bridge cryptocurrency infrastructure with regulated financial markets. The RLUSD integration into Ripple Payments represents a key step in this direction.
The stablecoin’s growth comes after years of regulatory challenges for Ripple. The company’s focus on regulatory compliance with RLUSD reflects lessons learned from past experiences.
As RLUSD continues to gain traction, Ripple appears positioned to challenge established players in the stablecoin space. The token’s integration with Ripple Payments creates a unique value proposition that leverages the company’s existing cross-border payment infrastructure.
