Ripple’s stablecoin, RLUSD, was recently listed on the top Defi platform, Euler Finance. Users can now borrow, lend, and use RLUSD as collateral. In just 24 hours of its launch, it has already surpassed $25 million in supply.
This move comes as trading volume and institutional interest in Ripple continue to rise. The platform also rolled out new incentives to boost adoption. RLUSD scored two major wins in the past day as it got listed on Euler Labs and top exchange Bitget, starting today.
RLUSD Hits $300M Market Cap with Big Exchange Listings
RLUSD is making big moves after it integrated with Ripple Payments and Hidden Road’s $1.25B institutional services and has also landed on major platforms like Revolut, Zero Hash, and the most recent one was Gemini. It was the fifteenth exchange to list RLUSD and recorded a 63.7% increase in 24-hour trading volume, crossing $52 million.
RLUSD also recently crossed a $300 million market cap. JPMorgan and other U.S. banks are also entering the stablecoin space, which could impact RLUSD’s institutional appeal. While USDT ($111B) and USDC ($33B) dominate the market, RLUSD stands out with its enterprise payment focus.
RLUSD – The Gold Standard
Ripple CEO Brad Garlinghouse has said that RLUSD aims to be the gold standard for enterprise stablecoins and is confident that it could break into the top five. Currently, RLUSD sits at 14th place on CoinMarketCap with a $309 million market cap.
In its latest press release, Ripple has highlighted how XRP and RLUSD are driving the future of global payments. In 2024, the cross-border payments market reached $31.6 trillion and is expected to reach $50 trillion in a decade. With the RLUSD launch recently, Ripple is clearly aiming for a major slice of the $50 trillion cross-border payments pie.
