Ripple's dollar-pegged stablecoin RLUSD has achieved a $500 million market capitalization milestone while securing major ecosystem expansions. The cryptocurrency payments platform Transak has integrated RLUSD, enabling its 8.3 million users across 64 countries – including the US, UK, and EU – to purchase the stablecoin using Apple Pay, Google Pay, Visa, Mastercard, SEPA transfers, and wire transfers. This integration, developed over three months for regulatory compliance, provides access through 450+ wallets and exchanges including MetaMask, Trust Wallet, and Coinbase Wallet.
Concurrently, Ripple announced BNY Mellon as RLUSD's primary custodian, with global asset servicing head Emily Portney confirming the partnership will support institutional adoption. The stablecoin's market cap surged 62% since June, adding nearly $200 million, partly fueled by Switzerland's AMINA Bank becoming the first regulated institution to offer RLUSD trading and custody – which previously triggered a 20% volume spike.
Further growth drivers include Ripple's collaboration with London-based OpenPayd for cross-border payment solutions and anticipation of the US GENIUS Act establishing federal stablecoin frameworks. Though Transak's off-ramp functionality won't launch until late 2025, analysts project RLUSD could reach $1 billion by early 2026 as CEO Brad Garlinghouse positions it to compete with USDT and USDC.