Ripple’s Stablecoin RLUSD Nears $900M Market Cap in Under a Year

Ripple’s RLUSD stablecoin is nearing a market capitalization of $900 million, according to the company’s latest October independent attestation report. The figure has more than doubled in just three months, climbing from $400 million in August.

Launched less than a year ago, RLUSD is pegged 1:1 to the US dollar and backed by deposits, short-term US Treasuries, and other cash equivalents, offering stability and security to users.