Ripple’s U.S. dollar-backed stablecoin RLUSD reached a new milestone with a market capitalization of about $2.71 billion. It surpassed PayPal’s PYUSD, valued at roughly $2.69 billion, less than two years after its official launch in December 2024. This growth is supported by institutional partnerships and integrations with Coinbase, BNY and Standard Chartered, as well as increasing use on the XRP Ledger. Validator Vet described RLUSD as one of the top five dollar-backed stablecoins and said it could accelerate the XRP Ledger’s adoption by financial institutions.
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