Launched in December, the enterprise-grade, USD-denominated RLUSD stablecoin is already nearing $250 million in market capitalisation and $10 billion in trading.
“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,” says Jack McDonald, SVP, stablecoins, Ripple.
Now, the company has enabled RLUSD cross-border payments in Ripple Payments. Ripple claims that, unlike many stablecoins, which are designed for retail use, RLUSD has built-in global enterprise utility to improve the speed and efficiency of cross-border payments.
The stablecoin is already being used in the payment flow with select customers, including cross-border payment providers BKK Forex and iSend to improve their treasury operations.
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