Ripple 
$0.008653 Labs’ new stablecoin, RLUSD, draws attention for its potential to increase XRP trading volume. David Schwartz, Ripple’s Chief Technology Officer, stated that this new asset will strengthen the XRPL ecosystem and accelerate on-chain applications. RLUSD has entered the markets with approval from the New York Department of Financial Services (NYDFS).
Performance of RLUSD and Its Contribution to XRPL
RLUSD is backed by US dollar deposits, cash equivalents, and treasury bills. Launched on December 10, RLUSD has already reached a market capitalization of 50 million dollars, according to Ripple. However, data from CoinMarketCap indicates that the stablecoin’s daily trading volume remains around 80,000 dollars.
Schwartz emphasized that RLUSD will support new on-chain applications based on XRPL. He noted, “RLUSD will further solidify XRP’s role as a bridge asset among developers and applications.” This stablecoin has the potential to accelerate on-chain activities in areas such as Real World Asset (RWA) tokenization, foreign exchange, and settlement processes.
Ethereum Integration and Ripple Payments
RLUSD is not solely built on the XRP Ledger; it also incorporates Ethereum’s support, allowing users access to the decentralized finance (DeFi) ecosystem. Ripple announced that it will integrate RLUSD into its global payment network, Ripple Payments. This integration focuses on providing speed and cost advantages for cross-border payments.
Monica Long, President of Ripple, previously highlighted that XRP was primarily developed for international payments. Long noted that RLUSD will focus on liquidity and RWA tokenization. Thanks to Ethereum 
$3,342 integration, the stablecoin has become compatible with dApps and Ethereum-based wallets. Schwartz mentioned that this move will establish RLUSD as a significant player in the stablecoin market.
Ripple’s new stablecoin, RLUSD, aims to expand the XRPL ecosystem and boost XRP trading volume. The support from Ethereum and integration with Ripple Payments facilitate RLUSD’s adoption as an effective asset in both DeFi applications and cross-border payments.
