TechFlow, July 9 — According to The Block, Ripple's dollar-pegged stablecoin RLUSD has surpassed $500 million in circulation seven months after its launch in December 2024. RLUSD is issued on both the XRP Ledger and Ethereum and currently ranks among the top 20 largest dollar-pegged stablecoins globally, with a daily trading volume of approximately $26 million. The coin is backed by cash, cash equivalents, and short-term U.S. Treasury securities, maintaining a 1:1 peg to the U.S. dollar. Ripple is currently seeking a U.S. national trust bank charter to directly hold customer deposits and issue RLUSD. Overall, the total market capitalization of dollar-pegged stablecoins has reached nearly $250 billion, accounting for over 95% of the entire stablecoin market.
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