Ripple’s RLUSD Stablecoin Hits $500M Supply Milestone

Ripple’s stablecoin, RLUSD, has now passed $500 million in circulation . This significant milestone comes just seven months after its launch. RLUSD is tied to the value of the U.S. dollar and is experiencing rapid growth, indicating that more people are starting to trust and utilize it. As Ripple is growing in the stablecoin market, the company is pushing for a national banking license. This license would enable the fintech company to follow the same rules as regular banks and offer additional financial services. RLUSD Rises Quickly in a Competitive Market RLUSD was launched in December 2024 and is tied 1:1 to the U.S. dollar. Cash, short-term U.S. government bonds, and other safe assets back it. This makes sure each RLUSD token has real value behind it. Users can trade RLUSD on Aave , the Ethereum blockchain, and the XRP Ledger (XRPL), providing them with more options and faster transactions. According to reports, RLUSD experiences approximately $26 million in daily trading volume. It is now one of the top 20 dollar-pegged stablecoins globally, according to CoinGecko. This gives Ripple a strong spot in the fast-growing stablecoin market, which is now worth over $260 billion. Notably, dollar-based tokens account for approximately 95% of that amount. Ripple Aims to Become a Regulated Bank Ripple is seeking a national trust-bank license from U.S. regulators to expand its role in the financial world. If the Office of the Comptroller of the Currency (OCC) approves it, the firm will be able to hold customer deposits and issue RLUSD in accordance with U.S. banking laws. This would make Ripple one of the few cryptocurrency companies operating as a fully approved financial institution. Circle, the company that made USDC stablecoin, is also making a similar move. Following its successful Initial Public Offering (IPO) debut, the company is seeking a national banking license to serve better and protect its institutional clients. Support from a More Friendly Regulatory Environment The growth of RLUSD and Ripple’s ambitions coincides with a shift in U.S. regulators’ approach toward crypto. Since the start of President Donald Trump’s new term, federal agencies, such as the OCC, have made it easier for banks to engage in crypto-related activities. Additionally, the GENIUS Act, which has garnered bipartisan support , is attracting more investors to stablecoins. This law aims to establish clear rules for how stablecoins and blockchain companies should operate in the U.S. These changes are helping people trust digital money more. Ripple’s success with RLUSD demonstrates that the stablecoin market is experiencing rapid growth. As more people and businesses adopt digital currencies, RLUSD is emerging as a strong and trusted choice. The post Ripple’s RLUSD Stablecoin Hits $500M Supply Milestone appeared first on TheCoinrise.com .

Source: The Coin Rise