Ripple’s RLUSD stablecoin has reached a market capitalization of $2.035 billion, closing in on PayPal’s PYUSD which stands at approximately $2.87 billion. Launched in December 2024, RLUSD has grown rapidly driven by significant minting activity including issuances of 40 million, 25 million, and 20 million tokens in a single day. Much of this growth has occurred on the XRP Ledger, where supply is approaching $1 billion, shifting away from its initial Ethereum base. RLUSD now ranks among the top regulated stablecoins and could potentially overtake PYUSD at its current growth rate. Tether’s USDT remains the dominant stablecoin with a market cap of $183 billion, followed by Circle’s USDC at $73 billion.
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