Ripple’s RLUSD Stablecoin Reaches New Milestone: Market Cap Surpasses $900 Million

Ripple’s recently released stablecoin, RLUSD, has made significant progress in the past year. Its market capitalization has surged to over $900 million, a remarkable increase from just $400 million in August, according to the company’s independent attestation report for October. 1:1 USD peg and backed by deposits, short-term US Treasuries, and other cash equivalents make RLUSD a stable choice for users. Ripple’s commitment to RLUSD has been demonstrated through funding initiatives like the University Blockchain Research Initiative (UBRI), as well as integration with platforms like Brale and Ripple Prime, which now uses RLUSD for settlement purposes.