Ripple merges RLUSD into payments platform to expand utility
Ripple has integrated its USD-backed stablecoin, RLUSD, into its primary payments platform, Ripple Payments, in an effort to enhance cross-border transactions and broaden RLUSD’s utility among financial institutions.
RLUSD adoption surges since launch
Since its December 2024 debut, RLUSD has seen rapid adoption, with its market capitalization nearing $250 million.
- The stablecoin has facilitated over $10 billion in total trading volume, reflecting growing demand across financial and trading markets.
- Ripple aims to position RLUSD as a key component of its payments ecosystem, ensuring stability and liquidity for enterprise use cases.
Strengthening cross-border payments
Ripple Payments, which handles billions in transactions, has further reinforced its cross-border payment capabilities with the integration of RLUSD.
- The stablecoin is already being used by BKK Forex and iSend, two payment providers optimizing treasury operations and settlement processes.
- Ripple intends to gradually expand RLUSD’s role, leveraging its global payout network to enhance financial efficiency and speed.
RLUSD’s focus on enterprise adoption
Unlike retail-focused stablecoins, RLUSD is specifically designed for enterprise-grade applications, ensuring compliance and liquidity for businesses involved in global transactions.
- Jack McDonald, Ripple’s SVP of Stablecoins, emphasized RLUSD’s increasing role in both crypto and traditional finance markets.
- “New exchanges are continually listing RLUSD, and we are collaborating with NGOs to streamline stablecoin-based giving,” McDonald said.
RLUSD expands reach with Kraken listing
RLUSD continues to gain exchange support, further expanding its market accessibility.
- After being listed on LMAX Digital, Zero Hash, Bitstamp, and Bullish, RLUSD is now available on Kraken, providing broader access to retail and institutional traders.
- The stablecoin plays a multifaceted role, enabling instant cross-border settlements, supporting remittances, integrating with DeFi, and serving as collateral for tokenized real-world assets.
