Ripple said its RLUSD stablecoin has climbed to roughly $2.4 billion in market capitalization, extending its recent growth as activity on the token continued to rise. In a Sept. 30 update, Jack McDonald, Ripple’s senior vice president for stablecoins, said RLUSD expanded by more than 50% over the past month and that its average daily activity has increased by more than threefold since the start of the year.
Data from Ripple’s transparency dashboard showed that, as of Sept. 24, RLUSD had $2.409 billion in circulation and $2.5315 billion in reserves, leaving reserve assets about $122.5 million above circulating supply. The token is mainly issued across Ethereum and the XRP Ledger, with about $1.37 billion on Ethereum and about $1.05 billion on XRP Ledger.
RLUSD is issued by Standard Custody & Trust Company, a Ripple subsidiary regulated by the New York State Department of Financial Services. Ripple also said reserve assets are segregated from the issuer’s own assets. Separately, 99Bitcoins reported that the RLUSD/USDS pair processed more than $600 million in volume during the first week after Uniswap v4 went live.
Ripple said its RLUSD stablecoin has reached a market capitalization of about $2.4 billion, with growth of more than 50% over the past month, according to a Sept. 30 update from Jack McDonald, the company’s senior vice president for stablecoins.
McDonald also said RLUSD’s average daily activity has risen by more than three times since the start of the year.
Circulating supply and reserves
Ripple’s transparency dashboard showed that, as of Sept. 24, RLUSD had $2.409 billion in circulation and $2.5315 billion in reserves. That put reserves about $122.5 million above circulating supply.
Distribution across networks
RLUSD is mainly circulating on Ethereum and the XRP Ledger. Its market capitalization stands at about $1.37 billion on Ethereum and about $1.05 billion on XRP Ledger.
Issuer and regulatory status
RLUSD is issued by Standard Custody & Trust Company, a Ripple subsidiary regulated by the New York State Department of Financial Services. Ripple said the reserve assets are segregated from the issuer’s own assets.
Trading activity on Uniswap v4
Separately, according to 99Bitcoins, the RLUSD/USDS trading pair processed more than $600 million in volume during the first week after Uniswap v4 launched.
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