Ripple’s stablecoin growth has put Ripple USD (RLUSD) at the top of the weekly DeFi growth chart, with decentralized-exchange trading volume increasing by $199.4 million over seven days. Token Terminal’s figures put that gain at more than twice the $97.6 million weekly inflow recorded by its closest rival, USDG.
Key takeaways
- RLUSD’s seven-day DEX gain exceeded USDG’s by more than twofold.
- Licensed payment companies can settle cross-border payments instantly using RLUSD.
- RLUSD ranks eighth globally but accounts for over 92% of XRPL stablecoin turnover.
Ripple’s stablecoin growth draws on institutional infrastructure
Business-to-business infrastructure targeting institutional capital supported RLUSD’s liquidity growth. Integrations expanded its use across decentralized trading venues, cross-chain routes and payment services.
These included specialized Uniswap V4 pools for large-scale arbitrage, connections to a hundred other blockchains through the Squid protocol, and a launch on the Swiss platform Arf. Together, those integrations extended the token’s reach beyond its home network.
Regulation and instant cross-border settlement
RLUSD operates under New York Department of Financial Services (NYDFS) regulation and is fully backed by U.S. government bonds. Its compliance framework is central to its institutional use.
The Arf launch enabled licensed payment companies to conduct instant cross-border settlements with RLUSD. That use addresses the lengthy periods during which payment funds can remain tied up in correspondent bank accounts.
Eighth globally, dominant on XRP Ledger
Data from rwa.xyz places RLUSD eighth among stablecoins, with net capitalization of $2,401,976,892. PayPal’s comparable project stands at $3.01 billion.
Despite Ripple’s stablecoin growth, its share remains about 1% of a $289.24 billion global market. Tether and Circle hold much larger positions, with capitalization of $181.5 billion and $69.7 billion, respectively.
The balance is different on XRP Ledger. RLUSD accounts for more than 92% of stablecoin turnover on the XRPL registry.
A bridge between banking and decentralized markets
RLUSD connects traditional banking with decentralized markets through its regulatory framework and payment infrastructure. Its institutional role combines compliant digital-dollar settlement with access to decentralized liquidity.
That connection spans distinct uses: large-scale arbitrage through Uniswap V4 pools, cross-chain transfers through Squid, and instant settlement for licensed payment companies through Arf.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.