Ripple announced it has added its US dollar-backed stablecoin, RLUSD, to its Ripple Payments platform to support enterprise cross-border transactions using the digital asset.
RLUSD, launched in December 2024, is designed primarily for business applications rather than retail use.
Ripple said the stablecoin is aimed at improving the speed and reducing the cost of international payments processed through its network.
It operates under a compliance-focused framework and is issued via a New York Department of Financial Services (NYDFS) regulated entity.
Since its launch, RLUSD has reached a market capitalisation approaching US$250 million and recorded nearly US$10 billion in trading volume.
Ripple confirmed that select customers, including payment providers BKK Forex and iSend, are already using the stablecoin within Ripple Payments to manage cross-border treasury operations.
The company plans to gradually expand its use to more clients on the platform.
Beyond payments, Ripple noted that RLUSD is being used as collateral in both crypto and traditional financial markets, and is also being explored by NGOs for donation disbursements.
The integration builds on Ripple’s existing global payout infrastructure and experience working with both digital assets and traditional finance.
To increase accessibility, RLUSD has been made available on several digital asset exchanges.
Following earlier listings on platforms such as Bitstamp, Bullish, LMAX Digital and Zero Hash, the stablecoin is now also tradable on Kraken.
“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.
New exchanges are listing RLUSD on an ongoing basis and we’re actively working with NGOs who see the opportunity to streamline giving through stablecoins. We’re additionally excited to enable RLUSD in Ripple Payments, extending the breadth of stablecoins available in our cross-border payments solution.”
said Jack McDonald, SVP of Stablecoins at Ripple.
