Ripple Breaks Record with 50M RLUSD Mint on Ethereum, Eyes Top 5 Stablecoin Spot

Ripple has minted a record-breaking 50 million RLUSD tokens on Ethereum, marking the largest single-batch stablecoin issuance to date. In total, the San Francisco-based blockchain company minted 61.3 million tokens in March alone, including over 28 million on March 17.

Launched in December, RLUSD has quickly gained momentum. According to CoinGecko, its market cap has surged to $243 million. While still trailing behind major competitors—PayPal’s PYUSD ($753 million), Circle’s USDC ($60 billion), and Tether ($143 billion)—RLUSD is showing rapid growth and strong potential.

Ripple CEO Brad Garlinghouse has set an ambitious goal for RLUSD: a top 5 position among stablecoins by the end of 2025. To reach that milestone, the token would need to exceed a $3 billion market cap, competing with DAI, which currently sits at $3.2 billion.

Despite its smaller size, RLUSD leads in volume-to-market cap ratio, signaling high trading activity. Most of its trading is concentrated on Bullish, a cryptocurrency exchange backed by billionaire Peter Thiel. Ripple’s Senior Vice President of Stablecoin, Jack McDonald, noted that RLUSD is growing faster than projected.

Beyond DeFi integration, RLUSD is also being adopted by nonprofits like Mercy Corps Ventures, expanding its real-world utility. Analytics firm IntoTheBlock reports that the token is rapidly gaining traction and is well-positioned to become a major player in the stablecoin space.

As Ripple continues to scale its stablecoin ambitions, the company’s aggressive minting strategy and expanding use cases suggest RLUSD could become a serious contender in the $100+ billion stablecoin market.