Ripple Dollar Issuance Reaches $2 Billion, Close to $1 Billion on XRP Ledger

The issuance of Ripple's dollar-pegged stablecoin, Ripple Dollar (RLUSD), has been recorded at approximately $2 billion. The amount issued on the XRP Ledger has also approached $1 billion. The market capitalization of Ripple Dollar has surpassed $2 billion, and the issuance on the XRP Ledger is nearing $1 billion. Currently, the total issuance of Ripple Dollar is about $2 billion, with approximately $963 million allocated on the XRP Ledger and around $1.1 billion on the Ethereum network. Ripple Dollar is designed as a dollar-denominated asset used for payments, remittances, and on-chain liquidity. The expansion of stablecoin supply within the Ripple ecosystem is gaining attention, and the fact that the issuance of Ripple Dollar is split between the XRP Ledger and Ethereum indicates that Ripple is leveraging both its own ecosystem and a universal smart contract network. Ripple explains that Ripple Dollar is backed by separate reserves such as cash and cash equivalents, and the proof of reserves and verification of circulation are directly linked to the trustworthiness of the stablecoin. The surpassing of $2 billion by Ripple Dollar is interpreted as a signal that Ripple has secured a certain scale in the stablecoin market.

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