Ripple 
$2 Labs’ new stablecoin, RLUSD ($1.00), draws attention for its potential to increase XRP ($2.33) 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.
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