Ripple's stablecoin RLUSD has demonstrated impressive growth, highlighted by the latest February report. Its introduction to new platforms and expanding applications signal asset growth.
Market Cap Growth of RLUSD
RLUSD, a stablecoin from Ripple, has reached a market capitalization exceeding $170 million, surpassing the company's internal projections. This information was confirmed in a new February report presented by Jack McDonald, SVP of Stablecoins at Ripple. According to him, the coin is expected to become a top 5 stablecoin by the end of the year.
New Listings and Use Case Expansion
The RLUSD stablecoin is now available on new platforms such as LMAX, with further listings anticipated soon. RLUSD debuted in December 2024 on several exchanges and crypto platforms, including Uphold, MoonPay, Archax, and CoinMENA. It has also listed on platforms like Bitso, Bullish, Bitstamp, Mercado Bitcoin, Independent Reserve, and Zero Hash. Its use has expanded with integrations in DeFi liquidity pools and support for NGOs handling charitable donations.
Future Predictions for RLUSD
Jack McDonald in his tweet echoed earlier predictions by Ripple's CEO Brad Garlinghouse that RLUSD would be one of the top five stablecoins by the end of the year. According to Garlinghouse, the stablecoin market overall is expected to grow significantly.
The growth and expansion of RLUSD illustrates the demand for stablecoins in the market and the potential outlook for this sector in the near future.
