Ripple's RLUSD stablecoin exceeds $2 billion market cap

Ripple announced that its RLUSD stablecoin surpassed $2 billion in market capitalization, reaching this milestone less than two years after its launch.

As of the announcement, nearly $1 billion of the circulating supply was issued on the XRP Ledger, while Ethereum held a slightly larger share with approximately $1.05 billion. Ripple has expanded the stablecoin's availability beyond its original networks to include Base, Ink, Optimism, Unichain, and the XRPL EVM sidechain.

Standard Custody issues RLUSD under New York oversight, maintaining segregated reserve accounts for holders. Because RLUSD is designed to maintain a $1 peg, its market capitalization reflects the total circulating supply rather than price appreciation.