Global Stablecoin Market Cap Hits Record $310B as Ripple's RLUSD Surges Past $1.3B

The global stablecoin market capitalization has reached a historic milestone, surpassing $310 billion to set a new all-time high. Data highlighted by Token Terminal shows the sector has expanded by more than $100 billion since the start of 2025, fully reversing a sharp contraction experienced during the industry's previous risk reset in 2022. The chart illustrates a steep, renewed uptrend beginning in early 2024 and accelerating through 2025, forming the steepest growth arc since stablecoins began scaling in 2019.

This growth signals more than market sentiment; it represents real capital flowing back into tokenized dollars. The market cap expansion has occurred consistently through steady month-over-month growth, suggesting durable demand rather than rapid speculative spikes. Stablecoins serve as the primary settlement layer for crypto trading, on-chain liquidity, and a growing share of cross-border payments. Their return to record levels underscores the broader resurgence of digital asset activity and the sector's tightening link with real-world finance.

Concurrently, Ripple's RLUSD stablecoin has achieved a significant milestone of its own, approaching a $1.3 billion market cap with a staggering year-to-date growth of approximately 1,278%. A key driver behind RLUSD's rapid expansion is its multi-chain deployment strategy across both the Ethereum and XRP Ledger (XRPL) networks. Ethereum hosts roughly 80% of RLUSD's circulating supply, leveraging its deep liquidity and extensive DeFi ecosystem, while XRPL offers fast settlement and minimal transaction costs.

Strategic partnerships have been instrumental in propelling RLUSD adoption. A collaboration with Gemini has enabled RLUSD card settlements, extending its use to real-world payment systems. Furthermore, Ripple has joined forces with Mastercard and WebBank to test RLUSD for institutional payment flows, focusing on enabling faster, lower-cost transactions. These moves position RLUSD as a viable alternative to dominant stablecoins like USDT and USDC, particularly in institutional payment corridors.

The recent upgrade to the XRP Ledger (XRPL v3.0.0) has bolstered RLUSD's institutional use cases by introducing a native lending protocol and enhancing transaction transparency and network stability. These improvements are central to Ripple's strategy of centering stablecoins and tokenized real-world assets (RWAs) in its institutional DeFi offerings. The combination of strong partnerships, an effective multi-chain strategy, and technological advancements strengthens Ripple's position in the competitive stablecoin market, setting the stage for further integration into mainstream financial systems.