The token, which debuted in late 2024, now has a market capitalization of close to $710 million. That figure matters because it signals real capital backing the push, even if the coin still sits well below the largest stablecoins.
Ham Serunjogi, CEO of Chipper Cash, said RLUSD is “uniquely positioned to accelerate institutional blockchain adoption across Africa and beyond.” That line frames the push as aimed more at banks and big payments firms than at casual traders.
Together, we’ll unlock new potential for cross-border…
Based on reports, Ripple is also linking RLUSD to humanitarian work in Kenya. Mercy Corps Ventures is running pilot programs that use the stablecoin to power blockchain-based insurance products for drought and rainfall risks.
These pilots are small. But they are meant to show how stablecoins can back practical financial services where climate shocks hit farming communities. For many African users, access to reliable, low-cost payment rails matters more than the token’s total market value.
That distribution lets institutions tap RLUSD for payments, settlement, and collateral management. Jack McDonald, SVP of Stablecoins at Ripple, said demand is growing across payments, tokenization, and collateral markets.
The listings show Ripple wants the coin to be usable on familiar trading and custody platforms, which can shorten the path to institutional adoption.
Meanwhile, on-chain metrics show rising activity. Artemis data points to monthly transaction volumes climbing from almost $120 million in July to $194 million in August.
That jump is healthy for a newcomer. Yet it is still small when compared with established stablecoins that process billions each month on Ethereum and Tron.
Based on these numbers, RLUSD is gaining traction but has a long way to go if it hopes to match the liquidity and daily flows of market leaders.
Featured image from Getty Images, chart from TradingView
