Ripple's stablecoin, RLUSD, quickly established itself in the cryptocurrency market, showcasing steady growth and expansion plans.
RLUSD: Quick Start in the Market
Since its launch in December 2023, RLUSD gained popularity rapidly, processing over 33,000 transactions in just six months. This success is attributed to the coin being compliant with the EU's new regulatory framework for digital assets (MiCA). The majority of the funds ($52.9 million) were minted on Ethereum, with $13.3 million on the XRP Ledger. By the end of Q1 2025, RLUSD's market cap had reached over $244 million.
Ripple's Successes and Future Plans
After a successful launch on multiple platforms, RLUSD became available on major exchanges like Kraken and Uniswap. Additionally, the coin was recognized as a token within the Dubai International Financial Center. Currently, its market cap has exceeded $500 million but still trails behind competitors like USDT and USDC.
Ripple's Mergers and Acquisitions
In addition to RLUSD's successes, Ripple made a significant acquisition by purchasing the brokerage firm Hidden Road for $1.25 billion. This made Ripple the only company in the crypto space to own a multi-asset broker. There were also rumors of a possible acquisition of Circle, the creator of USDC, but these plans were later denied.
Ripple's stablecoin RLUSD has demonstrated impressive results in a short time, and despite skepticism, the company is confidently moving forward with new ambitious plans.
