Ripple’s Stablecoin Gains Traction Amid Crypto Banking Push

Ripple’s RLUSD has crossed the $500 million market cap threshold, marking a significant milestone for the seven-month-old stablecoin. Available on Ethereum and XRP Ledger, it processes about $26 million in daily trades, per CoinGecko.

The growth comes as Ripple seeks federal banking approval, positioning itself alongside competitors like Circle. A national trust-bank charter would enable direct reserve management and tighter compliance—key advantages in the evolving stablecoin sector.

Pegged to the dollar and backed by liquid assets, RLUSD benefits from a shifting U.S. regulatory landscape. Under Trump, agencies like the OCC have rolled out crypto-friendly policies, encouraging traditional banks to engage with blockchain-based finance.