Ripple USD (RLUSD) has reached a market capitalization of $500 million just seven months after its debut in the cryptocurrency market.
RLUSD Growth and Partnerships
According to CoinMarketCap data, the current circulating supply of RLUSD stands at 501.24 million tokens. The increase in market volume occurred following the partnership with Switzerland's AMINA Bank, which became the first bank to support RLUSD, providing a boost with a 20% uptick in trading volume.
Stablecoin Market Position of RLUSD
The RLUSD stablecoin is now ranked among the top 20 by volume, indicating its growing popularity among cryptocurrency market participants, despite competition from major players like Tether (USDT) and Circle (USDC).
Regulatory Impact on RLUSD Growth
Regulatory changes in the U.S., particularly the potential passage of the GENIUS Act, could accelerate RLUSD's growth toward the $1 billion mark for U.S. players. The bill aims to establish federal frameworks for stablecoins and improve consumer protection.
Thus, given the active development and new partnerships, such as the collaboration with OpenPayd, RLUSD has every chance of further growth and achieving new heights in the crypto market.
