Ripple’s regulated USD-backed stablecoin, RLUSD, has shattered the $1 billion market capitalization threshold just 11 months after its December 2024 launch, cementing its place as the 10th-largest U.S. dollar-pegged stablecoin worldwide.
The token’s meteoric rise comes amid a blistering acquisition spree that has transformed Ripple into a one-stop institutional crypto powerhouse.RLUSD’s circulating supply is evenly split between Ethereum and the XRP Ledger, providing seamless liquidity for DeFi protocols on the former and ultra-fast, low-cost settlements on the latter.
Monthly attestations by a Big Four accounting firm confirm 1:1 backing by cash, cash equivalents, and short-term U.S. Treasuries held in segregated accounts at a New York-licensed trust company.Ripple President Monica Long hailed the milestone as validation of the company’s enterprise-grade strategy.
“Institutions are no longer dipping toes—they’re diving in,” Long said in an exclusive interview. “RLUSD is the compliant digital dollar they need for 24/7 payments, treasury management, and yield-bearing reserves. Our four acquisitions this year have supercharged that value proposition.”
Ripple has deployed over $1.5 billion in cash and stock this year to assemble a full-stack institutional suite:Hidden Road ($1.25B) – The global prime broker, rebranded Ripple Prime, now offers institutions tri-party lending, margin financing, and cross-margining across spot, derivatives, and tokenized real-world assets (RWAs).
Hidden Road’s $10B+ annual cleared volume is already onboarding RLUSD as preferred collateral.
Rail ($200M) – The enterprise stablecoin payments rail integrates RLUSD into corporate ERP systems, enabling same-second settlement with major banks in 40+ currencies. Rail’s API suite has slashed cross-border treasury costs by up to 70% for early pilots.
GTreasury – The just-announced deal for the Chicago-based treasury management software leader will embed RLUSD wallets, real-time FX hedging, and on-chain cash forecasting into the platforms used by 45% of Fortune 500 CFOs. Closing expected Q1 2026.
Palisade – The stealth-mode wallet infrastructure startup provides non-custodial, MPC-based institutional vaults compliant with SOC 2, ISO 27001, and upcoming EU MiCA rules. Palisade’s “policy engine” lets compliance teams set dynamic spending rules—e.g., “RLUSD can only flow to KYC’d counterparties on allow-listed chains.”
Institutional Use Cases ExplodeEarly adopters include:
Mercado Bitcoin (Latin America’s largest exchange) using RLUSD for B2B remittances, cutting fees from 6% to under 0.1%.
Standard Chartered piloting RLUSD-denominated tokenized T-bills on Ethereum, yielding 4.8% APY to corporate holders.
Archax (UK FCA-regulated digital securities exchange) listing RLUSD as base pair for RWA trading.
The $170 billion stablecoin market remains dominated by Tether (USDT, $120B) and Circle’s USDC ($35B), but RLUSD’s regulated pedigree and dual-chain design are carving out the institutional slice.
Analysts project RLUSD could crack the top five by 2027 if Ripple’s enterprise pipeline converts.“Stablecoins are the killer app for blockchain in finance,” said David Mercer, CEO of LMAX Digital. “Ripple isn’t just issuing a token—they’re building the rails, the brokerage, the treasury workstation, and the wallet. That’s why $1B feels like just the starting gun.”
Ripple’s stock-for-acquisition war chest remains robust, with whispers of a potential crypto custody bank bid before year-end. For now, RLUSD holders are earning 4.2% annualized yield via Ripple Prime’s lending desk—paid daily in additional RLUSD.Price Action: XRP +3.8% intraday on the news, last at $0.62. RLUSD trades at $1.0002 on Uniswap and XRPL DEX.
Naorem Mohen offers compelling insights on Artificial Intelligence and Cryptocurrencies. Explore his content on Twitter: @laimacha.
Naorem Mohen
View More PostsNaorem Mohen offers compelling insights on Artificial Intelligence and Cryptocurrencies. Explore his content on Twitter: @laimacha.
