Ripple has rolled out its dollar-pegged stablecoin, RLUSD, across its Ripple Payments network, marking a strategic bet on cryptocurrency’s role in corporate money movement. The integration gives businesses an alternative to conventional cross-border payment rails, with early adopters reporting transaction settlements in seconds at lower costs than traditional correspondent banking.
Targeting institutional rather than retail users, RLUSD distinguishes itself through enterprise-focused liquidity pools and regulatory safeguards. Currency exchange provider BKK Forex and remittance firm iSend are among the first wave of companies using the stablecoin to simplify treasury management—a validation Ripple hopes will spur broader adoption.
Since its December 2024 debut, RLUSD has gained steady traction, with its market value nearing $250 million and trading volume stopping at $10 billion. Availability on major trading platforms, including Kraken, Bitstamp, and institutional-focused venues like LMAX Digital, has broadened its reach.
“We’re seeing the market cap continue to grow, outpacing our internal projections. In short order, RLUSD is being used for a number of use cases, including use as collateral in both crypto and tradfi trading markets,” said Jack McDonald, Ripple’s head of stablecoins. Ripple is also experimenting with NGO collaborations to see how stablecoins can speed up and simplify charity disbursements while keeping things fully transparent.
But RLUSD isn’t just about transactions. It’s smoothing out fiat-to-crypto conversions for traders, making remittance settlements instant, and playing a quiet yet crucial role in the growing tokenized asset space. But what really sets it apart? It’s backed by a New York-regulated trust, a crucial nod to compliance teams that still hesitate when it comes to crypto.
With McKinsey pegging cross-border payments at a staggering $150 trillion annually, Ripple sees RLUSD as its ticket into the tightly controlled correspondent banking system. The real question? As more corporations test the waters, will stablecoins finally rewrite the way money moves across businesses worldwide?
Also Read: XRP Could Hit $10 if US Stablecoin Bill Backs Ripple’s RLUSD
