RLUSD Tops $1.64B After Gate.io Listing and XRPL Traffic

Ripple USD (RLUSD) surpassed $1.64 billion in market capitalization following an increase in supply and wider distribution. Ripple confirmed a Gate.io listing on June 15, opening XRP/RLUSD trading and pairs with Bitcoin, Ethereum and USDT.

Market data shows RLUSD’s daily trading volume around $71.3 million. By comparison, Tether holds about $186.4 billion in market capitalization and USD Coin is near $75 billion.

On the XRP Ledger, RLUSD represents roughly 98% of stablecoin liquidity on the chain, about $760 million. Transfer volume for RLUSD exceeded $26 billion in the first quarter, and daily transactions on the ledger often top two million.

The Gate.io listing expanded exchange access and added new trading routes between RLUSD and major assets. Wider distribution across exchanges and payment rails has increased available liquidity for the token.

Ripple offers enterprise payment products built on the XRP Ledger. RLUSD is being used for transfers and settlement activity on the ledger.