Ripple USD, a stablecoin developed by Ripple, is rapidly approaching a market cap of $500 million, driven by trading volume growth and new integrations.
Rapid Growth of Ripple USD's Market Cap
In the past 24 hours, Ripple USD's trading volume surged by over 8%, reaching $40.71 million. The market cap of this successful token increased by 3.43%, reaching $485.33 million. Thus, the token is nearing the symbolic figure of $500 million.
Support from Banks and New Partners
Swiss bank AMINA has become the first regulated institution to offer custody and trading services for Ripple USD to institutional clients. Meanwhile, Ripple has partnered with the platform OpenPayd to enhance the accessibility of the stablecoin and integrate it into additional payment systems.
Ripple's Strategy in Crypto Payments
Ripple makes it clear that Ripple USD is a key part of the company's strategy to dominate the institutional crypto payments market since its launch in April. It has already been integrated into RippleNet and has received approval from the Dubai government, helping its market cap grow to $300 million in June.
With the current growth pace, reaching the $500 million mark for Ripple USD is only a matter of time, and it could happen within days if the ongoing investment inflows continue.
