Ripple’s RLUSD stablecoin has officially launched on Transak, a major cryptocurrency payments platform, as its market capitalization surpassed $500 million on July 8, 2025, less than seven months after its late 2024 debut.
Transak integration enables its 8.3 million users across 64 countries—including the US, UK, and EU—to purchase RLUSD using multiple fiat payment methods such as Apple Pay, Google Pay, Visa, Mastercard etc and wire transfers.
RLUSD is supported by over 450 crypto-native services including Trust Wallet, Coinbase Wallet etc.
While on-ramps for buying RLUSD are live, fiat off-ramps (selling RLUSD for fiat) are planned for later in 2025, focusing on use cases like remittances and cross-border payments.
Ripple selected Bank of New York Mellon (BNY) as the primary custodian of RLUSD reserves, enhancing institutional trust and regulatory compliance.
RLUSD is a US dollar-pegged stablecoin issued on both Ethereum and XRP Ledger blockchains, backed 1:1 by cash and equivalents, with monthly independent reserve attestations to ensure transparency and solvency.
The stablecoin is primarily targeted at enterprise use cases such as cross-border payments, treasury management, and tokenized asset platforms but is gaining retail traction through platforms like Transak.
RLUSD integration into Ripple Payments system occurred in April 2025, emphasizing Ripple’s strategy to expand stablecoin utility and XRP ecosystem activity, as XRP is used to pay transaction fees on the XRP Ledger and is burned, increasing XRP demand.
This milestone reflects RLUSD’s rapid growth and Ripple’s focus on regulatory compliance, institutional adoption, and expanding global accessibility of its stablecoin.
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