TLDR
- Ripple’s RLUSD stablecoin crossed $1 billion in market cap within 11 months.
- RLUSD and XRP are now approved as margin collateral on Bitnomial exchange.
- RLUSD is minted on Ethereum and XRP Ledger with a total supply of 1.02B.
- RLUSD is now listed on Bitpanda and used in Ripple’s prime brokerage service.
Ripple’s stablecoin, Ripple USD (RLUSD), has surpassed $1 billion in total market capitalization, becoming the largest stablecoin ever launched on the XRP Ledger. This milestone arrives less than a year after its launch and was celebrated by Ripple President Monica Long and other Ripple executives. RLUSD is now being used not only for settlements but also as margin collateral on U.S.-regulated exchanges.
RLUSD Surpasses $1 Billion in Market Capitalization
Ripple USD (RLUSD), the stablecoin issued by Ripple, has reached a total market capitalization of $1.02 billion, according to CoinMarketCap. This makes RLUSD the biggest stablecoin launched on the XRP Ledger to date. The supply of RLUSD spans both the Ethereum and XRP Ledger networks.
Ripple launched RLUSD in December 2024, and it has quickly grown in usage and adoption. The stablecoin’s performance has been closely followed in the digital asset sector, as it represents Ripple’s stablecoin strategy aimed at institutional-grade applications.
Monica Long, President of Ripple, acknowledged the milestone in a public statement on social media. She congratulated the Ripple stablecoin team, saying, “The RLUSD team puts the pedal to the metal everyday…congrats Jack McDonald and team on this achievement!”
Jack McDonald, Ripple’s SVP of Stablecoins, also commented on the achievement, expressing pride in the team’s progress as RLUSD crossed the billion-dollar mark.
Bitnomial Becomes First U.S. Exchange to Accept RLUSD as Margin
Bitnomial, a U.S.-based exchange regulated by the CFTC, has launched RLUSD and XRP as approved margin collateral for trading futures, options, and perpetual contracts. This makes Bitnomial the first derivatives clearing organization in the U.S. to support stablecoins as native margin assets.
Institutional clients on Bitnomial can now use RLUSD and XRP to manage their trading positions across a wide range of financial products. According to Bitnomial CEO Luke Hoersten, this move introduces new options for capital management and stability in trading digital assets.
“RLUSD brings stablecoin efficiency to the margin market,” said Hoersten at the Ripple Swell event in New York. He noted that supporting XRP alongside RLUSD enhances flexibility for traders in the U.S. derivatives space.
Ripple’s Jack McDonald praised the move by Bitnomial, stating, “Stablecoins like RLUSD are moving from speculation to real-world financial use cases, this is the next phase of adoption.”
Ripple Prime Launches to Expand RLUSD’s Use in Brokerage Services
Ripple has launched Ripple Prime following its acquisition of Hidden Road. The launch introduces digital asset spot prime brokerage services, allowing clients to execute over-the-counter (OTC) trades using both XRP and RLUSD.
With this service, RLUSD is being used as collateral for prime brokerage products. Derivatives clients are now able to hold balances in RLUSD to back trades and manage exposure more efficiently.
Ripple said that Ripple Prime, GTreasury, and Rail will support RLUSD’s continued expansion. In a tweet, Ripple stated this milestone is only the beginning, hinting at broader adoption across more trading platforms and institutions.
RLUSD was recently listed on Bitpanda, a leading European platform for buying and selling cryptocurrencies. Additional listings are expected to follow, further expanding its reach across global markets.
Growing Role of Stablecoins in Global Crypto Transactions
Stablecoins have continued to grow in usage across global crypto markets. A report from TRM Labs found that from January to July 2025, nearly 30% of all cryptocurrency transactions involved stablecoins.
The majority of fiat-backed stablecoins, including RLUSD, are tied to the U.S. dollar. The year 2025 has seen several regions implement new crypto regulations, including the United States with the GENIUS Act, the European Union with MiCA, and Hong Kong with its local rules.
There are also signs that traditional financial institutions are considering using stablecoins for settlements. Reports suggest that Bank of America is exploring the use of RLUSD among other stablecoins for internal transfers.
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