Ripple’s RLUSD Stablecoin Achieves Significant Milestone
Ripple’s RLUSD, a stablecoin pegged to the U.S. dollar, is on the verge of reaching a notable market capitalization goal. Following a cash infusion on Monday, the value of RLUSD has jumped to around $1.39 billion, making the $1.5 billion benchmark increasingly attainable.
According to the Ripple Stablecoin Tracker, today’s minting event saw the creation of 28.2 million RLUSD at the RLUSD Treasury, further indicating sustained institutional appetite for this regulatory-compliant stablecoin.
Integration with Corporate Cash Management
The increase in RLUSD’s supply seems closely linked to the recent launch of Ripple Treasury, a platform designed to seamlessly incorporate RLUSD into corporate cash management systems. This initiative commenced in January after Ripple acquired GTreasury, allowing corporate entities to leverage RLUSD for enhanced efficiency in cross-border transactions—offering 3 to 5 second settlements compared to traditional wire transfers that can take several days.
Corporate Demand and Market Impact
The minting of the additional 28.2 million RLUSD likely reflects the current needs of corporate partners who are tapping into this liquidity for quicker transaction times, particularly when speculative asset values are in flux.
In January, RLUSD also marked a vital liquidity achievement by being listed on Binance, the largest cryptocurrency exchange globally. This listing facilitated the establishment of high-liquidity trading pairs such as RLUSD/USDT and XRP/RLUSD, resulting in a remarkable surge in trading volume, surpassing $363 million within just 24 hours.
Consequently, RLUSD has transitioned from being merely a settlement mechanism to an attractive trading asset for investors around the globe.
