Ripple is rapidly expanding the use of its stablecoin RLUSD, announcing Wednesday that it is now live on crypto exchange Kraken and integrated into Ripple’s flagship cross-border payment platform.
Adoption for Payments and Trading
Ripple said RLUSD is already being used by payment providers like BKK Forex and iSend to streamline treasury operations. Since its launch in December, the stablecoin’s market cap has grown to nearly $250 million, according to SVP of Stablecoins Jack McDonald.
He added that RLUSD is being used both in crypto trading and traditional finance as collateral.
Rising Competition in the Stablecoin Sector
Ripple’s announcement comes as Washington debates new stablecoin regulation and as President Trump-backed World Liberty Financial prepares to launch its own USD-pegged token.
Tether’s USDT remains the dominant global stablecoin, but Ripple’s progress, alongside increased regulatory clarity, could encourage more traditional players like Bank of America to enter the market.
