Ripple, a San Francisco-based blockchain company, recently executed a record-breaking mint of 50 million tokens on Ethereum. This massive issuance surpasses all previous single-batch mints by a significant margin. In March alone, Ripple minted an additional 61.3 million RLUSD tokens. On March 17th, the company issued over 28 million RLUSD tokens. The total market cap of RLUSD has now reached $243 million according to CoinGecko data. While it is a relative newcomer, its market cap still lags behind established stablecoins such as PayPal’s PYUSD ($753 million), Circle’s USDC ($60 billion), and Tether approaching $143 billion. However, RLUSD boasts the highest volume-to-market cap ratio according to U.Today. The stablecoin is primarily traded on Bullish, a cryptocurrency exchange backed by Peter Thiel. Ripple CEO Brad Garlinghouse aims to have RLUSD ranked among the top five stablecoins by year’s end. To achieve this goal, it needs to secure a market cap exceeding $3 billion. Currently, Dai (DAI) holds the fifth-largest spot at $3.2 billion. Jack McDonald, SVP of Stablecoin at Ripple, has disclosed that RLUSD is growing faster than anticipated with increased usage in DeFi liquidity pools and non-profit organizations like Mercy Corps Ventures. IntoTheBlock, an analytics firm, predicts a significant role for RLUSD in the stablecoin market based on its current momentum.