“We are creating a new standard of trust in the stablecoin market,” Ripple commented on the launch of Ripple USD, which received regulatory approval in December 2024. RLUSD operates on the XRP Ledger and Ethereum blockchains, providing fast and low-cost transfers. Moreover, the company is focusing not only on retail users but also on banks and institutional clients.

As Ripple noted – “Choosing BNY as the custodian of reserves puts RLUSD on the same level as USDC in terms of security.” In 2024, the company invested $1.25 billion in acquiring the broker Hidden Road and $200 million in purchasing Rail, which processes more than 10% of global B2B stablecoin transactions. But this does not mean that RLUSD will be limited to the corporate sector: retail users already account for 29% of its volumes, which is even higher than USDC’s figure.